Unfiled & Late Taxes
Life happens and keeping up with your taxes can become overwhelming and complicated. Our Tax Mechanic professionals have years of experience handling your unfiled and late taxes.
Behind On Your Taxes?
Late income tax penalties in Canada can lead to substantial debts with the Canada Revenue Agency, affecting both your personal and business finances. At Tax Mechanic, our experienced team specializes in navigating complex tax situations and negotiating with the CRA on your behalf, helping you bring your account up to date while minimizing or eliminating penalty charges.
Late-Filing Penalties For 2017 to 2019.
If the CRA charged a late-filing penalty for 2017, 2018, or 2019 and requested a formal demand for a return, your late-filing penalty for 2020 will be 10% of your balance owing. You will be charged an additional 2% for each full month you file after the due date, to a maximum of 20 months. Late filing penalties still apply even if you are eligible to get interest relief if you received COVID-19 benefits.
Working With Our Team
Reliable Tax Consultants You Can Count On
Our team of expert Tax Mechanics has years of experience handling unfiled tax portfolios. When you choose to work with us, you can rely on our efficiency and our commitment to addressing any questions or concerns you may have about your taxes.
The Most Favorable Agreements with the CRA
Our team is dedicated to securing the best possible agreements when negotiating with the CRA on your behalf. We have a track record of successfully reducing or even eliminating penalties on late taxes. Contact one of our experts to learn more!
Customizable Services to Fit Your Needs
Every client’s portfolio is unique. Our team takes the time to understand your goals and needs before developing a tailored plan of action, guiding you through each step of the process. Check out our Accounting Packages for more information!
Frequently Asked Questions
Got a question? We’ve got answers. If you have some other questions, contact us directly at fraser@taxmechanic.ca
The tax deadline for 2021 is April 30, 2022. Unless you are self-employed, the tax deadline is June 15th 2022.
The late-filing penalty is 5% of your 2020 balance owing, plus an additional 1% for each full month you file after the due date, to a maximum of 12 months.
Yes.
You will be assessed penalties and interest.
Unfortunately, not. We do not issue full or partial refunds.