Tax Audit and Review
Facing a CRA audit or review? Simplified Accounting in Toronto provides expert guidance and representation.
Tax Audit and Review
Understanding CRA Tax Audits and Reviews
The Canada Revenue Agency (CRA) conducts audits and reviews to ensure taxpayers comply with tax laws and regulations. You may be selected for a tax audit or review for various reasons, including:
- Random selection: The CRA uses statistical tools to randomly select a certain number of tax returns for review each year.
- Inconsistencies in your return: Discrepancies or inconsistencies between your reported income and expenses may raise red flags for the CRA.
- Complex tax situation: If your tax return involves complex investments, self-employment, or other intricate matters, it may be subject to closer scrutiny.
While a CRA audit or review can be stressful, it’s crucial to remember you have rights and options. Simplified Accounting can provide comprehensive support throughout the process, protecting your interests.
- We schedule a free consultation to discuss your situation in detail.
- We thoroughly review your tax return and any related documentation.
- We answer all your questions and address any concerns you may have about the audit or review.
- We explain the audit or review process and what to expect.
- We act as your representative during all communication with the CRA, ensuring your voice is heard.
- We liaise with the CRA on your behalf, handling all inquiries and requests for information.
- We negotiate with the CRA to reach the most favourable outcome possible.
- We assist you in gathering and organizing all necessary documentation required by the CRA.
- We ensure all documents are accurate, complete, and meet the CRA’s requirements.
- We meticulously review and prepare documentation before submission to the CRA.
- If you disagree with the CRA’s findings, we will represent you during the appeals process.
- We advocate for your position and present compelling arguments on your behalf.
- We work towards a resolution that minimizes potential tax liabilities and penalties.
We are available to answer any questions and provide continued support even after the audit or review is complete.
Benefits of Partnering with Simplified Accounting and Tax Services
By partnering with Simplified Accounting and Tax Services, you gain access to a dedicated team of experienced professionals who are passionate about helping your business thrive.
- Experienced and qualified accounting professionals
- Personalized service
- Affordable pricing
- Enhanced decision-making
Don’t let the complexities of tax season overwhelm you. Let our experienced team at Simplified Accounting handle your tax preparation and planning needs. We are here to ensure compliance, maximize your tax savings, and provide valuable insights to help you achieve your financial objectives.
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