The deadline for your tax return has been and gone, but it has suddenly come to your attention that you have filed your return with an unintentional error or omission.
Before you start to stress out about the mistake and the possible consequences of submitting incorrect information to the Canada Revenue Agency (CRA), we have some good news – you can make the necessary adjustments.
Step 1 – Notice of Assessment
Before filing any adjustments to a previous tax return, 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 will be unable to process your request.
In addition, the CRA may have even discovered the discrepancy themselves and will be reaching out for additional information. If this is the case, be sure you are prompt in responding to their requests to ensure the timely processing of your tax return.
Step 2 – Request an adjustment
If you receive your Notice of Assessment and you still need to make the adjustment, you have a few options.
1 - ReFILE
You can advise the CRA of the error using the ReFILE service on the CRA website. This method can only be used if you used NETFILE or EFILE to submit your tax return. This service can be used for your 2016-2018 NETFILE Returns or your 2015-2018 EFILE Returns.
Note that there are limitations to the ReFILE service. The service cannot be used in a number of situations including the following. You are:
- amending an election or want to make an election;
- applying for child and family benefits;
- allocating a refund to other CRA accounts;
- applying for the disability tax credit;
- in the process of a reassessment;
- changing personal information, such as address or direct deposit information;
- or making more than nine adjustments on a single return.
2 - My Account
It is possible to make adjustments to your tax return using your CRA My Account.
My account can also be used for making changes to personal information, such as your address or direct deposit details.
3 - Mail
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 you can file adjustments by sending a signed letter and supporting documents to your tax centre, it is recommended that you use the Form T1-ADJ. 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.
Step 3 - Wait
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, for the adjustment to be finalized. Once the adjustment is reviewed, you will either be notified by the CRA through a Notice of Assessment informing you that the changes were made, or you will receive correspondence from them detailing the reasons the changes were denied.
Need help ammending an error on your filed tax return? Koroll & Company is able to amend all errors on our client's filed tax returns.
If you’re looking to make an adjustment to your return or the CRA has reached out for additional information, contact us today.
