We Manage All Aspects Of The Canada Revenue Agency Assessment Process
We specialize primarily in solving client's tax problems on a broad range of tax matters from an assessment by tax authorities through to litigation and settlement at Federal and Provincial levels.
CRA Audits - It is not uncommon for a business to be audited by the Canada Revenue Agency (CRA) and for most taxpayers, an audit is intimidating and stressful.
When the CRA conducts a business audit, they will want to examine your books and records to ensure that you have complied with legislation and received the exact amount to which you are entitled. If, after conducting the audit, the CRA decides that your return must be reassessed, your tax return will be amended.
To help reduce the likelihood of adjustment, or to resolve reassessments, we can help in the following ways:
The best way to minimize CRA adjustments is to ensure your books have been properly kept and that tax law has been applied correctly. At Koroll & Co. we have the expertise, knowledge and skills to ensure your books meet legislation.
By having us maintain your records and complete your tax returns, you can feel confident that the results of a CRA audit or examination will be in your favour.
During the Audit
If you have been selected for an audit, we can help you through the process. We will work directly with the CRA to ensure that they receive the necessary documentation and will work diligently to resolve any issues that may arise.
If it is determined that a reassessment, resulting in higher taxes owing, should be made, we will contact the examiner, regarding the proposed reassessment and work to resolve the issue before the audit is finalized.
If you have already completed the audit process and an adjustment has been made, resulting in further tax owing, we can help you determine whether or not you have a realistic chance of appeal or objection.
If you do, we can help you file a formal dispute and assist in the objection and appeal processes.
Our team is here to ensure that your taxes are fairly assessed and that you have maximized your after tax position.
We can help you and your business in the following ways:
- Interest waiver applications
- Negotiation at administrative levels
- Appeals to court
- Protection and voluntary disclosures
- Unfiled tax returns
- Undeclared income
- Refused expenses
- Income tax questionnaires on assets