05/29/2025
The Aftermath of Tax Season
Now that the rush of tax season is mostly in the past, we are going to “Talk Tax”, every Thursday. Today’s post talks about what happens after a return is filed.
It is understandable that most taxpayers think that the submission of their tax return each year is the end of the job.
Sometimes that is true, but for some taxpayers, unfortunately, that is not the case.
CRA undertakes Pre-assessment reviews, Post-assessment reviews, processing reviews, a matching program, and a number of other programs related to a client’s tax return. Each of these could be a separate post (Check back every Thursday when we will delve into each of these).
The letters are often long, the information request can be complicated to the average taxpayer, and almost always prove overwhelming.
The reason a taxpayer receives a letter vary depending on the type of request.
Ignoring the letters IS NOT A STRATEGY!
If a taxpayer elects not to respond, CRA will simply reassess the return and disallow the item(s) in question.
We recommend reading through the letter once, checking the lines in the return that the letter refers to, and respond within the provided timeline (CRA will usually allow an additional 30 day extension with a phone call).
Most often, the submission of the requested information will be the end of the process, but on occasion, the saga drags on (more about that to come in future “Tax Talk” Thursdays.
Reach out to me at Calgary’s Choice Tax Services or to our Lethbridge branch office and Kevin Numerow
Boost your savings with expert tax guidance in Lethbridge, ensuring you claim every deduction and credit.
