What to expect... when you are expecting the CRA! (with Sophie Virji)
Have you ever received a phone call or a letter from Canada Revenue Agency and panicked about what to do next? Worried whether it was a legitimate call, or a scam? Felt overwhelmed in how to decide what documents to provide? Well, this episode is for you!
I am excited to welcome fellow tax chick, Sophie Virji, back to the podcast for this episode! Sophie and I chatted about the tax litigation process in Season 1 of the podcast (see Episode 5: “Tax Litigation 101”). We re-group in this episode to tackle some of the “practical” aspects of CRA correspondence. Specifically, we touch on three main themes: (1) Contact by CRA - phone versus letter versus email and the difference between requirements for information and an audit request (7:20), (2) Giving information back to CRA - electronic submissions, how to assemble your audit team, how to keep track of what information you provide, and a discussion on “privilege” (17:16), and (3) Resolving disputes - there are different ways than an audit can “end” - we chat about settlement, versus the appeal process (37:25).
This episode has some great “tips” regardless of whether you are an individual taxpayer, or you own a business!
RESOURCES DISCUSSED ON THE EPISODE
- Canada Revenue Agency, Business Enquiries Line - 1-800-959-5525
- Canada Revenue Agency, Personal Enquiries Line - 1-800-959-8281
- Notice of Objection (template form): https://www.canada.ca/en/revenue-agency/services/forms-publications/forms/t400a.html
MORE FROM SOPHIE:
- Website: https://www.bennettjones.com/VirjiSophie
- Facebook: https://www.facebook.com/sophie.virji/
- LinkedIn: https://www.linkedin.com/in/sophievirji/
- Instagram: @sophievirji
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