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.
A Tax Specialist will be in touch!
Behind On Your Taxes?
Penalties for late income tax in Canada can cause significant tax debts with the Canada Revenue Agency, negatively impacting the future of your personal and business finances. Our team at Tax Mechanic are experienced with filing your most complex tax situations negotiating with the CRA on your behalf to bring your account up to date with zero to minimal 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.
Frequently Asked Questions
Got a question? We've got answers. If you have some other questions, contact us directly at info@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.
No. We advise filing a VDP.
The max your late tax returns can be filed is 10 years max.
Unfiled Tax Returns have not been filed. Back Taxes/Returns have been filed with an outstanding owing balance.
Death by firing squad. Alternatively we can negotiate on your behalf to arrange a payment arrangement with the Canada Revenue Agency (CRA).