Calgary Tax Relief
If you are looking for tax relief solutions, there are some important points that you need to remember.
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It is possible to make a deal with your Revenue Agency, to make a payment plan that works for both of you. For example, if you find yourself owing $2,000 then you could offer a plan that allows you to pay $200 off per month over a 10-month period. However, don’t forget that these revenue agencies hold the power, and it is completely up to them whether they accept or decline your proposal. Therefore, it is important to work out the full details of your plan and prove to them that it is something you can stick to. If they get the slightest hint that you might not be able to fulfill it, then they will likely decline.
However, don’t forget that their main aim is to get the money you owe, and they would rather do this without force. Sending in debt collection agencies takes time and money, so if you can offer them a reasonable alternative they are likely to take it. If they say no, however, then you might find yourself in even more trouble. They could decide to take further action against you, and even with-hold certain tax credits until you have paid off your complete debt amount.
They are unlikely to settle for a payment of less than you owe, because they don’t want to find themselves in a situation that requires them to make the same deal with others. However, you may find that you fit some exceptional circumstances that allow you to make such a deal. If you file a consumer proposal, then you may find yourself able to make a tax debt settlement which allows you to pay less than the amount due, subject to certain requirements. However, in the video below Trevor Cawston explains how Cawston & Associates can help if a consumer proposal is not an option for you.
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