taxes

Reply

  #1  
Old 11-27-06, 11:09 AM
M
Member
Thread Starter
Join Date: Jun 2002
Posts: 19
Received 0 Votes on 0 Posts
taxes

Im a resident of Canada(Ontario) and havent filed tax returns for several years. When I call my payroll dept to get the past T4's re-issued, how far back do I go? Do I go back to the last filing year regardless of haw far back or is here a statute of limitations? If I have to go all the way back, how do I find out when the last time was? Should I call the Canada Revenue Agency or would this be walking into a trap. I'm so tired of the guilt and denial. Help.
 
Sponsored Links
  #2  
Old 11-27-06, 02:00 PM
slumlordfrank's Avatar
Member
Join Date: Mar 2003
Location: Where time and space begin
Posts: 702
Received 0 Votes on 0 Posts
Michaelx;

No time like the present to get started. I think the Canadian system works similar to here in the U.S. If it does than your T4 (our W2 shows both the amount earned and the amount withheld for taxes. If that's the case you may not owe "much" in taxes if your withholding was pretty close to what it should be.

In the US if the withholding is "close" and you have access to funds to pay the shortage I would probably start with Canada Revenue. The reason for that is that you probably don't owe much in back taxes, plus penalties and interest, plus a small fine for not filing your return.

If, the withholding isn't close, or you don't have access to funds to make up the shortage, then I would recommend getting with a chartered accountant (CPA in the states) and have him/her start the ball rolling.

Good luck.

Frank
 
  #3  
Old 12-06-06, 06:32 AM
pgtek's Avatar
Member
Join Date: Oct 2004
Location: north Carolina
Posts: 1,396
Received 1 Vote on 1 Post
i
you need to go back 5 years in Canada
Been there done that. I'm a Canadian citizen
you should have file tax return every year even if you had no income
 
Reply
Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Thread Tools
Search this Thread
 
Ask a Question
Question Title:
Description:
Your question will be posted in: