The CRA has been known to suggest it’s overkill to retain DioGuardi to help with an audit, a collection issue, or even a submission for taxpayer relief.
Accountants, insolvency trustees, and ex-CRA agents now offering you their “insider knowledge” say the same thing.
Regularly people come to us late in the game because they were afraid hiring DioGuardi would make the CRA angry.
The CRA, the accountants, the trustees and the ex-CRA agents are protecting their own interests, not yours. DioGuardi isn’t overkill.
1. What starts out simple can quickly become dangerous.
Years of unfiled tax returns need more than merely filing the returns. The CRA can get tired of waiting, raise its own assessments, and then start collecting on the arrears before you get around to getting caught up. DioGuardi has the know-how to negotiate a stay of action while we get you filed and consider strategies for affordable payment.
2. Accurate tax returns are the best protection.
In the panic of trying to fix past-due filings before the CRA finds out, do-it-yourselfers can be tempted to do a rush job on the returns, leaving out sources of income that are too difficult to track down, or under-reporting because you think the CRA will be so happy to receive your returns they won’t pay close attention. Some tax preparers may also be of the opinion that it’s better to get the returns filed and fix any overlooked details later – if the CRA asks. Both approaches are flawed.
Once a mistake is filed on a tax return, it takes substantial time and effort, not just to amend and re-file the returns, but to undo the collateral damage, which may trigger unnecessary scrutiny surrounding HST, payroll remittances, or other issues. Once the CRA think they have something to sniff after, calling them off is difficult.
3. It’s not true that batch-filing several back years means the CRA won’t pay as much attention.
Neither the CRA nor the accountants, trustees, and ex-CRA agents tell you that filing years in a batch – with or without a voluntary disclosure – exposes your returns to the scrutiny of an audit. Your personal and your financial life then come under the CRA microscope. All the more reason to have DioGuardi on your side from the very beginning.
4. If you’ve been arbitrarily assessed because you didn’t file, the CRA will not have factored into your assessment deductions for expenses and other factors that could reduce your total tax payable.
In these cases, DioGuardi starts by working with you to prepare accurate returns that report your income in a tax efficient manner, with a view to achieving the fairest assessment possible. This approach also lowers any penalties and interest that may have been assessed on your balances.
5. When DioGuardi has directed the preparation of your tax returns from the outset, we are already armed with the evidence to help you object to an unfair assessment immediately.
A notice of objection stops collection action on your tax balance (with the exception of HST and source deductions) and, if successful, will reduce your tax balance.
6. Unpaid tax balances of a corporation – particularly HST or source deductions accounts – may be assessed to you personally if you are a director, and still may be assessed to you for up to two years after the date of your resignation as a director.
If you are the only director, or have the bad luck to be the “last man out”, you will likely be left holding the debt. But we have ways to deal with that, too. Ask us.
7. Accountants, trustees and, yes, even the ex-CRA people, are a constant source of misinformation about what the Taxman can and can’t do.
So are your buddies at the gym, your brother-in-law Bob who did your taxes, and your work colleagues. At DioGuardi we have seen just about every tax scenario played out many times, in many ways. We have a depth and breadth of experience that can’t be matched.
8. Taxpayer instinct is to ignore tax balances you can’t afford to pay.
So the problem drags on, interest compounds daily, and the tax owing mounts until the CRA finally moves to register a lien against your house, garnish wages or bank accounts, or visit your clients/tenants demanding that your invoices or fees be paid directly to the CRA. DioGuardi will work with you from the beginning to secure a short term payment arrangement with the CRA, giving you time to re-organize your finances to arrange a final settlement and, if you have grounds, submit an application for relief from the imposition of interest and penalties.
Don’t let a trustee tell you bankruptcy or a consumer proposal is an easier way out. It’s not. It’s humiliating, it enbraces all your debt and consumes all your assets. And the trustee is as much a beneficiary of your estate as the creditors. Meaning the trustee gets a piece of whatever the Taxman gets. Don’t jump down that rabbit hole until every other option is explored.
9. DioGuardi does battle with the Taxman every day.
Our heritage is thousands of case files that demonstrate recurring patterns of CRA behaviour and, even more important, continuous front line experience to identfy and respond to changes in CRA policies . We are a team of seasoned tax warriors who have stood up to the CRA and WON!
10. Why would you want to start anywhere else?
Deal with the Taxman from a position of strength. Call 1-877-4-DIO-TAX now! Or go back to the home page and use the form to book an appointment.