CRA Audit Representation in Vancouver
Few people are truly prepared when they find out they’re being audited. You might be wondering why your return was selected, whether you have the right records, or if something you filed years ago is about to cause a problem. Accountants-BC Ltd. provides CRA audit representation to Vancouver taxpayers, giving you someone knowledgeable in your corner when your finances are under review. Our team understands how much is riding on the outcome. We’ll represent your interests, deal directly with the auditor, and make sure you know where things stand throughout the process.
Call (604) 683-2341 today to discuss your audit with us.
What Triggers an Audit?
The CRA may select a return for an audit based on the information reported, discrepancies it identifies, or risk factors associated with the return. Selection doesn’t automatically mean something is wrong.
Factors that can trigger closer examination include:
- Significant changes in reported income or expenses
- Discrepancies between reported figures and third-party information
- Unusually large deductions or business expenses
- Repeated losses from a business or rental property
- Information received from other audits or investigations
- Failure to report income
While these factors can increase scrutiny, no single issue guarantees an audit. Each return is assessed based on its specific circumstances.
How Does Accountants-BC Ltd. Represent You During a CRA Audit?
Accountants-BC Ltd. takes a thorough, organized approach to representing you through CRA audits, helping you address the issues under review and present the information needed to support your tax position.
Our approach includes:
- Reviewing your audit notice and the issues under examination
- Examining your tax returns and supporting financial records
- Identifying documentation relevant to the auditor’s requests
- Preparing clear and accurate responses to information requests
- Communicating directly with the CRA on your behalf
- Addressing questions or concerns raised during the examination
- Reviewing proposed adjustments and audit findings
- Advising you on your options when you disagree with a reassessment
We represent your interests and keep you informed throughout the process, taking the pressure of representing yourself off your shoulders.
Can You Handle a Tax Audit Yourself?
You can handle a tax audit yourself, but doing so can be stressful and time-consuming and may increase the risk of mistakes. You have the right to communicate directly with the CRA, provide requested records, answer questions, and respond to the auditor’s findings without professional representation.
Taking this approach means you’re responsible for understanding each request and providing accurate, relevant information. You’ll also need to meet all applicable deadlines and maintain clear records of your correspondence and submissions.
Some cases are relatively straightforward, while others involve complex financial records, multiple tax years, disputed expenses, or significant discrepancies. Before proceeding alone, consider the complexity of your situation and whether you’re comfortable managing each stage independently.
What Happens When the CRA Audits You?
When the CRA audits you, an auditor examines your tax return and supporting records to confirm that the income, deductions, expenses, and credits you reported are accurate. You’ll receive notice explaining which tax years are under review and what information is required.
The auditor may request receipts, bank statements, invoices, contracts, or other financial records related to your return. They may also ask questions or request additional documentation as the review progresses.
Once the examination is complete, you’ll receive the results. Your return may remain unchanged, or the findings may result in a reassessment that changes the amount of tax you owe.
How Far Back Can the CRA Audit?
The CRA can audit returns from the past three years for most individual taxpayers and Canadian-controlled private corporations. For other corporations, the standard reassessment period is four years. These periods begin on the date shown on the original notice of assessment.
Audits can go beyond these limits in certain circumstances. If a return contains a misrepresentation caused by neglect, carelessness, willful default, or fraud, there’s no standard time limit on reassessment. Certain transactions and tax situations can also extend the normal reassessment period. This means older tax years may still come under scrutiny when specific conditions apply.
Can You Dispute a CRA Assessment?
You can dispute a CRA assessment if you believe the decision is incorrect. We can help you file a Notice of Objection that explains why you disagree and clearly presents the facts and reasons supporting your position.
Once submitted, the objection is reviewed separately from the original decision. We can respond to requests for additional records or explanations and provide supporting information when needed. Depending on the outcome, a reassessment may be issued. If you still disagree with the decision, we can help you understand your options and determine what steps are available to you.
How Long Do You Have To File a Notice of Objection?
For individuals, the deadline to file a Notice of Objection is either one year after the filing deadline for the return or 90 days after the date on the Notice of Assessment or determination, whichever comes later. Different filing deadlines apply to corporations and other taxpayers.
If you miss your deadline, you may still be able to apply for an extension. We can help you understand the time limits that apply to your situation and make sure you know what options are still available for challenging the assessment.
How Long Does It Take the CRA To Do an Audit?
A CRA audit can take anywhere from a few weeks to several months to complete. The timeline depends on the complexity of the issues under review, the amount of information requested, and how quickly the required documents are provided.
Straightforward cases with organized records may move quickly, while audits involving multiple tax years, business transactions, or extensive financial records can take longer. The auditor may also request additional information as the review progresses, which can extend the process.
There’s no fixed completion date. Each case proceeds according to its scope, complexity, and the information required to reach a conclusion.
Get the Tax Audit Support You Need Today
When your finances are under review, experienced CRA audit representation can give you confidence that your interests are being properly represented. Accountants-BC Ltd. understands the audit process and knows how to address the questions, documentation, and tax matters that can arise along the way. We’ll deal directly with the tax auditor on your behalf so you don’t have to carry the pressure of representing yourself.
Looking for CRA audit representation in Vancouver? Contact us at (604) 683-2341.