Unpaid Back Taxes
Falling behind on your taxes is not uncommon, but when you need to get caught up, hiring a professional tax company can make a world of difference. Accountants-BC Ltd. is very proud to help individuals and business owners with unpaid back taxes and dealing with the CRA. We are here to support you, and you can trust us to have your back.
Our team is just a phone call away if you're ready to get to work, so reach us at your convenience.
How to Know If You Have Unpaid Taxes
Life can get ahead of us sometimes, but if there is one thing that rings true for individuals and businesses alike, taking care of any debt you hold with the CRA (Canada Revenue Agency) is in your best interest. So, how will you know if you have unpaid taxes?
The first step is to file a back tax return. We’ll outline this process below.
File Back Tax Returns Today
The sooner you file your back tax returns, the better. The longer you neglect to take this step, the more interest and tax debt you incur. The deadline for filing individual tax returns here in Canada is April 30th. For businesses, tax information will need to be submitted to the CRA no later than 6 months after the end of your fiscal year.
Allow our experts to walk you through the process of making filing personal or commercial back-tax returns stress-free. Connect with us to learn more about which documents you’ll need to expedite the process.
Back Taxes Calculator
Our experts work as your back taxes calculator to help you understand where you will stand with the CRA before and after submitting any outstanding tax information. We will also help you identify any legal opportunities to take advantage of any tax deductions you or your company may be entitled to.
Our work makes planning for your next interaction with the CRA straightforward and hassle-free. We’ll help you gather the information you need to make informed choices when selecting the best repayment strategy for your circumstances.
Why You Shouldn’t Avoid Filing Back Taxes
Failure to take care of filing back taxes can result in significant penalties and prosecution. When you avoid interacting with the Canada Revenue Agency, you could face:
- Significant compound-interest increases
- CRA freezing your assets and the potential for a lien on your home
- Tax evasion prosecution
- And more
With that said, there are several steps you can take to approach the situation carefully. Our taxation experts understand the inner workings of the CRA and will help you prepare a legal back payment strategy that positions you or your company for success. Get in touch today to schedule a no-obligation consultation.
Understanding Back Taxes and Tax Audits
Whether your need assistance with back taxes and tax audits or you’d like guidance to ensure your personal or commercial taxation obligations are fulfilled in advance of filing, our experts are always here for you. We’ll help you prepare with all you need to know about the CRA’s systems, and which documents you will need to submit. All you have to do is get in touch with us to schedule an appointment for an initial consultation.
How to Pay Unpaid Taxes
Is there a best way to pay unpaid taxes? While the CRA would prefer you to pay a lump sum of the total amount as soon as possible, that’s not always realistic for many individuals and business owners. Our accounting pros are here to help you navigate through negotiating a settlement or payment plan with the CRA. Reach our consultants to learn more about how our tax strategies apply to your unique situation.
Understanding the Importance of Paying Back Tax
While neglecting your taxes for a few months won't cost you too much, the tax debt will build up quickly, making the problem much more challenging to deal with as time goes on. If you are in a financial bind, it is imperative to get started before it's too late, and if you need guidance, our experts are happy to be of service. We can help you find out precisely how much you owe, whether you can afford tax installment payments, and what to do if not.
Though you may feel stuck, our experts want to assure you that you're not alone. We will work hard to get you out of a sticky situation so you can move forward confidently with your future.
Invest in Professional Help When it Comes to Unpaid Back Taxes
Though some business owners and individuals may hesitate at the thought of hiring a tax team when they're already in the middle of a financial issue, you could end up saving yourself money in hiring our experts.
The longer you leave your taxes unpaid and not dealt with, the more money you will owe. If you choose to get the ball rolling today, our experts can help you develop a strategy to allow you to start paying back your taxes without going broke. Our servicing fees will be minimal compared to the dough you could blow, neglecting your obligations.
If you have questions or concerns about our pricing, we're happy to provide you with a detailed estimate.
Trust Our Tax Experts
With years of extensive experience filing both personal and corporate taxes and dealing directly with the CRA, our team has what it takes to guide you through your tax challenges and prepare you for a more fruitful future. Not only will we help you develop a plan to get your debts paid off fast, but we can help you strategize for the future so that you won't find yourself in a similar situation a few years down the road.
If you are ready to take charge of your financial situation, meet your tax obligations and rid yourself of stressful debts, our team is by your side. We have helped dozens of individuals and businesses in the area deal with similar problems, and we're confident you'll find peace of mind when working with our expert team.
We invite you to book a consultation with our experts when you're ready to get started.
Unpaid back taxes owed can cost Burnaby businesses big bucks
Tax penalties, interest, and additional levies imposed by the CRA for unpaid back taxes will steadily increase and should never be ignored. Burnaby taxpayers can turn to Accountants-BC Ltd. for information and guidance on all available settlement options, as well as highly competent CRA representation.
How can Accountants-BC Ltd. relieve the struggle of your tax debt?
Even if you have been dealing with the burden of unpaid back taxes for a lengthy period, Accountants-BC Ltd. will provide effective CRA representation, negotiate feasible tax penalty payment options, and reduce your tax debt whenever possible.
Some businesses or individuals may actually have the necessary funds at their disposal to write a sizeable check to resolve the problem of back taxes owed; while others cannot afford to pay their entire tax debt at once. In either case, to ensure that you are not paying more tax penalties than are actually required by law, consult Accountants-BC Ltd. tax specialists for an informed assessment. Our experts can secure equitable tax settlements that allow Burnaby individuals or business owners to overcome tax debt.
Consequences of postponing payment of unpaid back taxes
Outstanding tax debt rapidly swells to several times the original amount owed on your income tax return when payments are extensively delayed. Enlisting the help of Accountants-BC Ltd., Burnaby's tax experts, reduces penalties to circumvent further financial misfortune.
For reliable and prompt relief of all matters related to unpaid back taxes, visit our offices for a free and confidential assessment to learn more.