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Advice on late tax filing process

(1 post)
  • Started 2 weeks ago by rebeccaweiner
  1. rebeccaweiner
    Member

    Hey

    I am working for a construction company. I shifted to Toronto recently and I was very busy with the relocation process. And the most important part is I failed to do my tax filings. What can be the penalties associated with it?

    And how a tax representative can help us? I read an article regarding late tax filing. It is stated, if you owe taxes and fail to meet the deadline, penalty charges and daily compound interest will accrue on the unpaid amount. The penalty is 5% of the outstanding balance and an additional 1% of the outstanding balance, for every month your return is late, to a maximum of 12 months. Can anyone explain these facts? It will be very useful.

    I have heard of some companies in Toronto, which help with tax filing process ( http://www.taxmechanic.ca/late-tax-filings/ ) . Have anyone contacted them before? How can they help us? Expecting your replies. Thank you.

    Posted 2 weeks ago #

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