Owing tax debt to the Canada Revenue Agency can be very frustrating. If it remains unpaid, your taxes can take over your life filled with anxiety and worry.
Taxpayers who choose to ignore their taxes must be prepared to brace the very high costs of doing so. Your small taxes, in a matter of time, will quickly turn to large amounts due to daily compound interest. CRA will use all the means at their disposal to collect the unpaid taxes. It is always in your best interest to pay the debt sooner.
CRA allows making payment plan arrangements to the taxpayers with financial difficulties. We advise that you take an immediate action to make a payment arrangement as soon as possible; otherwise CRA can take legal action. CRA does not need a court order to take a legal action. If you become non-responsive to the CRA's phone calls or letters, you can be hit hard by shocking wage garnishments, frozen bank accounts, or liens on your property. See Collections
You can prevent CRA's legal action by making a payment plan arrangement in a timely manner. It may be too late to make an arrangement once the CRA takes legal action.
A tax payment plan arrangement is best suited to those individuals who, although cannot afford to pay the tax owing at once, they still can afford to make monthly installment payments to service their tax debt. Your financial information containing income, expenses, assets, and liabilities are the determining factors of your affordability to make monthly installments. We will walk you through the process and provide our customized solutions responsive to your needs.
Ignoring your tax debt is extremely disadvantageous. When ignored, your tax debt will grow sharply with the compound interest method of calculation that computes interest on the interest. Having an agreeable payment plan could be your best solution in the settlement of your tax debt.
Do not procrastinate! Act fast today to seek the help of a professional! The longer you wait, the more complicated and costlier your back taxes will be.
Contact us today to schedule a free, no-obligation, and confidential consultation to settle your tax debt with affordable payments responsive to your financial circumstances.
Take advantage of our free, no-obligation consultancy session and improve your financial life by learning the complexities of your tax matters and the solutions from a professional!