Overview:
Our client is a small business owner who had not filed any corporate tax returns for their business in the past six years. The client was concerned about the potential penalties and interest they may owe as a result of their non-compliance, and was looking for support in getting their business up to date on their tax filings.
Solution:
Our team provided corporate tax services to help the client get caught up on their tax filings. We worked with the client to gather all of the necessary documentation and information, and prepared and filed the outstanding tax returns on their behalf.
During the process, we also addressed any concerns that the Canada Revenue Agency (CRA) had about the client’s non-compliance. We were able to negotiate with the CRA on the client’s behalf and minimize the penalties and interest that they owed, ultimately saving the client over $10,000 in costs.
Results:
Thanks to our efforts, the client’s business was brought up to date on their corporate tax filings and was able to avoid significant penalties and interest. The client was grateful for our help and has continued to work with us on an ongoing basis to ensure that their business stays compliant with tax requirements.
Conclusion:
Falling behind on corporate tax filings can be a stressful and overwhelming experience for small business owners. However, with the right support and guidance, it is possible to get caught up and avoid significant penalties and interest. Our team is dedicated to helping clients like the small business owner in this case study get up to date on their tax filings and to minimize any potential consequences. We are proud to have been able to save our client over $10,000 in costs and to have helped them get their business back on track.