As the end of the year approaches, the Canada Revenue Agency (CRA) is reminding taxpayers about an important deadline. If you need to make a taxpayer relief request for the 2014 tax year or related reporting periods, you have until December 31, 2024 to submit your request.

Taxpayer relief is a request to cancel penalties or interest that were applied to your tax obligations. If you find that you've been subject to penalties or interest for any reason, you might be eligible to have them reduced or eliminated. However, the request must be made within 10 years from the end of the calendar year or fiscal period concerned.

Key Details:

• 2014 Tax Year: This includes any tax year or reporting period ending in 2014.
• Deadline: The last date to submit a request is December 31, 2024.
• Interest and Penalties: The CRA can cancel interest or penalties that accrued within 10 calendar years of the year in which you make the relief request, regardless of the tax year or reporting period the debt originally arose from.

If you're involved in a tax process such as an audit, objection, or appeal for the 2014 tax year or any period that ended in 2014, it is crucial to assess whether you need to make a taxpayer relief request. Even if you are unsure, it is advisable to submit the request before the December 31, 2024 deadline to ensure that you do not miss out on possible relief.

If you're feeling uncertain about your tax situation or need assistance in making your relief request, don’t hesitate to reach out to us for expert guidance and support.

Need Help with Your Taxes?

At Ari CPA, we specialize in providing tailored tax solutions for individuals and businesses. Whether you need help navigating the CRA’s tax processes or making a taxpayer relief request, we are here to assist you every step of the way.

Contact Us Today:

• Phone: 416-438-9799 | 416-293-1616
• Address: 1750 Brimley Road, Suite 213, Scarborough, ON M1P 4X7
• Email: ari@aricpa.ca

Don’t wait—get the professional help you need before the year’s end to ensure your taxes are in order!