The 2017 Tax Return deadline has been and gone for individual taxpayers, whose spouse or common law partner does not own a business.
In most cases, that means you no longer have to concern yourself with your 2017 return, unless of course the CRA reaches out for more information. In some cases, however, you may notice that you filed your return with an unintentional error or omission.
Perhaps you forgot about a tax information slip or maybe you transposed figures. Whatever may have happened, it is important that you make things right.
Before we get into the details about how to file your adjustments there is one important thing to remember. Before filing your adjustments, you must wait until you have received your Notice of Assessment, either by mail or electronically.
If you send in an adjustment before this time, the Canada Revenue Agency (CRA) will be unable to process your request. In some situations, the CRA may even spot the discrepancy themselves and reach out for additional information.
In this situation it is important to be prompt to ensure the timely processing of your tax return.
How to Adjust A Filed Tax Return
To correct an omission or error on your tax return, there are several different options, some of which are new this year.
If you used NETFILE or EFILE to submit your tax return, you can advise the CRA using the ReFILE service on the CRA website. This service can be used for your 2016-2017 NETFILE Returns or your 2015-2017 EFILE Returns.
There are, however, limitations to the ReFILE service:
- If you are making more than nine adjustments on a single return, you cannot use this system.
- You cannot apply for the disability tax credit or child and family benefits using ReFILE.
- ReFILE cannot be used to correct or change personal information, such as address or direct deposit information.
It is also still possible to make adjustments to your tax return using your CRA My Account, assuming you are registered. If not, you can register but it can take up to a few weeks. My account can also be used for making changes to personal information, such as your address or direct deposit details.
For taxpayers who prefer to use an offline option or are dealing with tax matters that are not allowed to be managed through ReFILE or My Account, you can mail your adjustments to the CRA. While it is not mandatory (you can file adjustments by sending a letter), it is recommended that you use the T1-ADJ E form.
The form clearly details the adjustment and ensures you provide the right information. To get a copy of the form, you can print it off the CRA website or you can have it mailed to you by calling the CRA’s enquiry line (1-800-959-8281).
Another main benefit of the paper method is that adjustments can be made for any tax matter and there is no limitation to the number of adjustments.
How Long Will It Take to Process My Adjustment?
Depending on the time of year the adjustment is made and the method you use to submit it, it could take two to eight weeks, sometimes longer.
If you’re looking to make an adjustment to your return or the CRA has reached out for additional information, contact us today.
