Ignoring the taxes you owe the CRA only makes the problem worse.
CRA Debt Relief has Real Solutions that Work
Many individuals facing Canada Revenue Agency (CRA) debt find themselves in significant financial hardship due to reassessments, penalties, and accrued interest. The CRA may disallow certain deductions or reassess previous tax filings, resulting in unexpected tax bills. Additionally, many taxpayers feel overwhelmed or misled by complex tax laws or previous advice, leaving them struggling to navigate their obligations and resolve their debt with the CRA.
Read on if any of the following apply to you:
- CRA has done a reassessment that has resulted in debt that it too large to manage
- You’re dealing with wage garnishments and bank levies
- CRA penalties and interest are making the problem worse
- Appeals and objections are not progressing, yet your interest is compounding
- CRA us threatening legal action
- Collections from CRA or other agencies are becoming a communication nightmare
Tax Shelter Donation Programs
In the early 2000’s, structured and heavily marketed schemes were designed to provide participants with large tax deductions that significantly reduced their taxable income. These programs often involved charitable donations or investments in businesses that were designed to generate tax credits or deductions greater than the initial investment. The companies, promoters, and organizations who offered these tax shelters have long disappeared, and their high-priced lawyers and accountants won’t reply.
Our largest client base is helping people deal with these tax shelter cases. Since 2000, CRA has publicized that over 207,000 participants in tax shelter gifting schemes have resulted in disallowed charitable donation claims worth billions for dollars. Some of these programs include CHC, GLGI, CLF, VIA, GLS and many more. If you participated in Tax Shelter program, we would likely have some of the latest information available. In most cases, these are stuck in the Court of Appeals while CRA tries to provide settlement options with small concessions.
If you have been engaged in a tax shelter program and haven’t resolved this with CRA, we highly suggest you consider a 15-minute free consultation with our team. We have helped many people that are in this situation so it is likely we can help you.
CRA Reassessment
Individuals may have exceedingly large reassessments that can result from unreported or underreported income, inflated deductions, capital gains miscalculations, missed fillings, and more. In many cases, this can become too high for people to handle and can also result in penalties and compounded interest. If the debt has become unmanageable and CRA is creating excessive pressure to clear it, we suggest you have a 15-minute free consultation with our team.
Wage Garnishment and Bank Levies
When the CRA initiates wage garnishment or bank levies, it typically follows a series of failed attempts to collect outstanding tax debts. In this situation, a taxpayer may have ignored previous notices or requests for payment, leading the CRA to take more aggressive action. Once a wage garnishment is in place, the CRA can direct the taxpayer’s employer to withhold a portion of their paycheck, typically up to 30%, and remit it directly to the agency until the debt is settled. Similarly, if a bank levy is enacted, the CRA can freeze the taxpayer’s bank account, seizing funds to cover the owed amount. This financial strain can cause significant hardship, as the taxpayer is left with limited access to their own money, making it challenging to meet everyday expenses and obligations. If your situation resembles this, we suggest you have a 15-minute consultation with our team.
Trying to Resolve with CRA
Regardless of how you got there, CRA is typically not open to negotiation. Fighting with CRA can be mentally and financially exhausting, with their goal being to break you down so you just give up and pay. If you think you need to progress resolutions with CRA is a step you should do, you shouldn’t try to do it alone. Having representation on your side is essential when dealing with a serious issue like CRA debt resolution. We suggest you have a 15-minute consultation with our team to discuss your situation and options.
Get a Custom Made Plan Designed to Provide You CRA Debt Relief
If you’re facing overwhelming CRA debt that feels impossible to manage, we’re here to help. Our dedicated team works closely with each client to craft a personalized solution tailored to their unique situation, ensuring that your specific needs are always our top priority.
We focus on protecting your assets, so you don’t have to sacrifice what’s important to you. Just as we would for our own friends and family, we bring relentless dedication and expertise to securing the best possible outcome for you.
The longer you delay, the more interest and penalties can add up, making it even harder to get back on track. At CRA Debt Relief, we’re here to help you take control of your situation, break free from the burden of CRA debt, and start fresh. Contact us today, and let’s work together to protect your future and your financial freedom.
