Non-Filed Tax Returns in Burnaby

Are you ready to take charge of your finances and tackle your non-filed tax returns? With Accountants-BC Ltd.’s support, minimizing penalties, updating your file, and getting back into good standing with the Canada Revenue Agency (CRA) is easy. We’re Burnaby’s resource for tax services for individuals and businesses. Our expertise covers everything from making sure you claim all the credits you’re eligible for to helping you negotiate favorable payment terms with the CRA.

Let our tax preparers and advisors help you sort out years’ worth of unfiled taxes and help you plan for a future with minimal tax burdens. Call (604) 683-2341 today to get started.

Book an Appointment to Prepare Non-Filed Tax Returns

Are There Penalties for Filing Overdue Tax Returns?

While some penalties are associated with filing overdue tax returns, you’ll be relieved that they’re often minimized if you file your return as soon as possible. The sooner you file, the less you’ll owe in penalties. Filing a late return is almost always better than not filing at all.

Filing a return allows you to access potential refunds and reduces penalties and interest charges that accrue on unpaid taxes.

How Far Back Can You File Past-Due Tax Returns?

You generally have up to 10 years from the original due date (typically April 30th) to file your past-due tax return. This applies to federal and provincial taxes. In some situations, the CRA may consider requests for relief beyond the 10-year window. This might apply to cases with exceptional circumstances that prevented you from filing on time.

These situations are evaluated on a case-by-case basis.

Filing Taxes Late with Accountants-BC Ltd.

We all need help sometimes with catching up on the details of everyday life. For our trusted tax specialists, getting your tax files where they need to go is what we do best. We provide insightful and compassionate support to both individuals and business owners facing the consequences of their non-filed returns. To guide you through the process, we provide comprehensive services that include:

  • Tax classification
  • Personalized consultations
  • Tax planning
  • Late tax processing
  • Tax debt management
  • Representation
  • And more!

Which Documents Do You Need to File a Late Tax Return?

The documents you’ll need will vary depending on your tax situation.

Here’s a general list of documents you’ll likely require to file a late tax return:

  • Social insurance number (SIN)
  • Government-issued identification
  • Previous year’s return (if available)
  • Employment income slips (T4s)
  • Self-employment income and expenses (if applicable)
  • Investment income lips (T5s)
  • Other income slips (T4A, OAS)
  • Receipts for medical expenses, educational expenses, etc.

Can You Negotiate With the CRA About Non-Filed Tax Returns?

While you can’t directly negotiate the amount of tax you owe on non-filed returns, you can work with the CRA to potentially reduce your penalties and interest charges.

Here’s what to do:

File Your Return As Soon As Possible

The sooner you file your overdue returns, the less interest you’ll accrue on outstanding taxes. The CRA calculates interest charges daily, so filing promptly minimizes the amount you owe.

Explain the Reason for Your Late Tax Filing

The CRA considers why your returns were not filed on time. Having a valid reason, like a serious illness, a natural disaster, or the death of a close family member, might help your case. However, the CRA isn’t obligated to accept any reason.

File a Penalty and Interest Relief Request

The CRA offers a formal process for requesting a reduction in penalties and interest charges. You’ll need to complete Form RC199, “Relief from Penalties and Interest”, and explain your circumstances in detail.

Overdue Tax Return Assistance

Overdue tax return filing is a time-sensitive issue. The longer your returns go unfiled, the more your penalties, fees, and fines have time to accumulate. With our help, we can minimize your obligations and maximize your return.

Drawing from our in-depth knowledge of tax law and policy, we’ll capitalize on all breaks, deductions, and claims available to you. Trusting our certified personnel to do this work for you isn’t just easy—it’s a smart financial move. Save yourself time and energy by making sure your claim is maximized, and your tax burden is minimized.

Navigate Tax Debt and Back Taxes

If you have non-filed tax returns, you may be incurring late fees and back taxes. Due to high-interest rates, these penalties add up quickly. Our team can help alleviate the burden of back taxes and tax debt with our expert representation and tax planning skills.

We’ll sit down with you to strategize the most effective course of action for your unique situation. Rest assured, our professionals will lay out your options in clear and honest detail. You’ll know what you can realistically expect from start to finish.

We’ll help you develop a plan to pay back your debt within a manageable timeline. With our assistance, you’ll be able to avoid unnecessary penalties and reach financial well-being sooner. We’ll also offer you our expert advice on effective methods to avoid tax fines in the future.

Reliable Unfiled Tax Return Processing

We understand that processing tax returns from previous years can be an overwhelming and arduous task. We’re here to streamline and simplify the process with our methodic and meticulous approach.

When you entrust your return in our hands, you can be confident your returns will be successfully processed within the shortest delay. We’ll take the stress of the administrative duties off your shoulders. We’ll comb through your files thoroughly, eliminating discrepancies and maintaining accuracy. The result? You can move forward towards a stable financial future.

Expert Tax Help in Burnaby

Cross taxes off your to-do list once and for all. Enlist the help of our professionals for a stress-free and streamlined tax filing process.

Drop by for a visit or drop us a line today to get started.