Tax Filing Milestones - February and March
It’s that time of year. Mark your calendar for these important tax filing milestones:
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$1.5 Billion Goes Unclaimed Due to Canadians Not Filing Their Taxes
In a paper titled The Mystery of Unclaimed Tax Benefits published in 2020 the authors found that about 10 to 12 per cent of Canadians don't file their tax returns. And if we look back almost a decade ago (2015) researchers estimated that the benefits lost to working-age non-filers was about $1.7 billion. That number has to be higher today, especially with all the new inflation protection measures being announced recently.
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Need Fast, Authoritative Answers to Tax Questions?
If you’ve been following the news, and you rely on CRA for tax answers, you may be feeling a little nervous about this headline: CRA workers want 'unprecedented' pay raise of more than 30% over 3 years. Regardless of your opinion (advocates say it’s needed, critics say it would 'gouge' taxpayer), tax pros are frustrated with long CRA wait times. What happens if there’s a strike? Cover your bases with Evergreen Explanatory Notes, your authoritative tax research library.
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Last Chance: The Advanced T1 Tax Update – Two Opportunities to Train Your Team
Tax season is just around the corner and now is the time to train new and returning staff to confidently prepare a deep and broad spectrum of returns for employees, families, investors, business owners and retirees. There are two opportunities to learn: in person on February 7 in Toronto and conveniently online any time with recorded presentations. Early registration deadline for tuition savings is January 31.
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