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The CRA’s Annual Office Audit Letter Campaign Message to Tax Professionals – December 2014
12-17-2014
Voluntary Disclosures Program
A second chance to correct your tax affairs
Second chances don’t often happen in life. But if you have ever made a tax mistake or left out details about income on your tax return, the Canada Revenue Agency (CRA) is offering you a second chance. The Voluntary Disclosures Program (VDP) gives you the opportunity to come forward, make things right, and have peace of mind.
The Canada Revenue Agency (CRA) will soon be conducting its sixth annual Office Audit Letter Campaign. In January 2015, the CRA will send educational and intent-to-audit letters to selected groups of individual taxpayers and business owners through the campaign. The campaign supports the CRA’s increased emphasis on helping individuals and small businesses to better understand their tax obligations and encouraging them to correct any inaccuracies in their past income tax and benefit returns.
The CRA will send about 33,000 letters to randomly selected taxpayers who claim business or rental losses or are employees who claim employment expenses on line 229 of their tax return.
The campaign is part of the CRA’s efforts to encourage voluntary compliance among groups of taxpayers who, our research indicates, may be at risk of non-compliance.
The CRA gives taxpayers a chance to come forward and correct their tax affairs through My Account, a T1 Adjustment Request, or the Voluntary Disclosures Program, and taxpayers are taking advantage of these opportunities.
If you or your clients have questions about the CRA’s Office Audit Letter Campaign or need help making changes to previously filed returns, go to cra.gc.ca/lettercampaign. You can also call the Individual Income Tax Enquiries line at 1-800-959-8281, or the Business Enquiries line at 1-800-959-5525.
Footnotes: Footnotes: This column is presented as a general source of information only and is not intended as a solicitation for business. It is always recommended that you consult a qualified tax professional beforeembarking on any of the suggestions outlined above. Mohammed Yasin, CGA, is the principal of M. Yasin & Co. Inc., Certified General Accountants and has offices in Vancouver & Surrey,B.C. For more information on this topic or any other taxation matters, please contact taxes@alameen.ca.
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