Haven’t Filed Past Returns?

Haven’t Filed Past Returns? 150 150 ML Cloud Accounting

Haven’t Filed Past Returns?

In many instances, the failure to file tax returns starts quite innocently as a consequence of life changing events such as divorce, family sickness, the death of loved ones or, the loss of employment. Because of the calamities faced by the taxpayer, the filing of a tax return is relegated to the lowest priority.

However, when the next year arrives, the taxpayer feels that the filing of a return for that particular year will give rise to CRA’s discovery of the failure to file from the previous year. This leads to a never-ending cycle of failing to file.

There are many taxpayers who have unwittingly found themselves in this situation which has arisen rather innocently.

In addition, of course, there are numerous taxpayers who have decided that they simply are not required to pay tax or, feel justified in failing to report some portions of their income.

Thankfully, CRA offers a program known as the Voluntary Disclosure Program (“VDP”) which allows non-compliant taxpayers to correct their sins of the past and “come clean” with CRA.

The result of participating in the VDP is that CRA will not prosecute you, nor will it levy civil penalties against you in connection with your previous failures. To “clean up” your past, apply now: