Audits by the Canada Revenue Agency
Audits by the Canada Revenue Agency are assessments to ensure compliance with tax laws. They typically involve a thorough review of financial records of self-employed individuals and corporations to verify accuracy in tax reporting.
Steps in a CRA Audit
- Notification: The CRA sends a notice indicating the start of an audit. This notice details the years or records to be reviewed.
- Preparation: Gathering relevant financial documents, such as receipts, ledgers, and tax returns, for the period under review.
- Examination: The CRA conducts a detailed examination of the records, which may include site visits or interviews.
- Findings and Response: The CRA shares its findings. There may be an opportunity for the taxpayer to respond or provide additional information.
- Conclusion: The audit concludes with the CRA issuing a final determination, which could lead to adjustments in tax filings.
How We Can Help
Expert Representation and Support
At Jahanshahi Law Firm, we offer expert legal guidance and representation throughout the audit process. Our services include:
- Pre-Audit Consultation: We help you understand the audit process, prepare necessary documentation, and advise on rights and obligations.
- Representation During the Audit: Acting as a liaison with the CRA, we ensure that the audit is conducted fairly and your interests are protected.
- Responding to Findings: We assist in responding to CRA’s findings, including providing additional information or clarification.
- Resolving Disputes: If there are disagreements with the audit results, we can assist in filing objections if required.
- Post-Audit Compliance: Advising on strategies to ensure future compliance and avoid potential audits.
For a consultation or more information about how we can assist you with CRA audits, please contact us by clicking below: