Useful Information about Changing Your Tax Return

The tax system in Canada is centered on numerous laws related to taxes that are proposed by the CRA. As a result, taxpayers seek an answer to a number of questions. A majority of them wonder whether or not there is a way to change their tax returns. A pertinent question which they ask in this regard is this:

Yes, it is possible to change your tax returns. You can do so after getting a notice of assessment. Though experts strongly recommend using the “My Account online” option to make changes to your tax return, some alternative options such as sending a letter of request to the local tax centre are also available at your disposal.

Reasons for Changing a Tax Return

There can be various reasons for altering your tax return. These are as follows:

• You got a revised slip
• Your slip was delivered at a later date than the date at which you were supposed to receive it
• You have queries regarding the published information of the CRA

While applying for a change in your tax return, you can also add an additional piece of information to lend credence to your claim, regardless of whether or not your reason for applying for a tax change coincides with one of the reasons mentioned above.

Form for Requesting An Adjustment

An applicant can request for an adjustment by filling up the T1 Adjustment Request Form. Even a representative can also fill out the form on behalf of an applicant if the latter provides a signed letter of authorization to the former.

What Happens When You File An Adjustment Request?

Owing to the fact that the inventory levels of the CRA always remains high, the processing of a T1 Adjustment request form submitted by an applicant can take longer than anticipated length of time.

After carrying out a review, the CRA sends a notice of reassessment in connection with a request to the address of correspondence as furnished by an applicant. It also provides the explanation of its review to an applicant by virtue of a letter.

While the CRA makes every possible effort to improve its services, it also deals with the problem of the scarcity of manpower to accomplish all its tasks.

For help or assistance regarding CRA taxes, including CRA tax remediation and appeals in North York Ontario, contact us now!