Income Tax F*ck up

[Cardinal]

Posting for a co-worker, looking for some suggestions/answers. He has not done his Income tax for the past 4 years straight he asked a bunch of us what he should do, Naturally being all plant operators we have no idea, he thinks he has only one or two of his T4's has only worked at the same place throughout, has RRSP's through sunlife, and his salary is roughly $100,000/ year. Would like advice on what to do/how to do it next. Gotta have some accountants on this site, also original and funny jokes are welcomed (Which I will convey and take full credit for :thumbsup: )

Thanks!

[UndrgroundRider]

I'm not an accountant but I do know he can call the CRA and have them send out copies of the T4's. Should be able to just fill in the returns and send them in.

[davidI]

What a fucking idiot!

Hopefully the deductions at source covered his income tax every year and he doesn't owe as the interest will be killer.

Sounds like dude needs to see a financial planner and accountant and get his life together.

I'm surprised the CRA didn't pick up on this though...assuming the proper documents were filed by the employer. :confused:

F*cking Federal Employees.

[Unknown303]

Originally posted by UndrgroundRider
I'm not an accountant but I do know he can call the CRA and have them send out copies of the T4's. Should be able to just fill in the returns and send them in.

:werd:
Had an ex-gf that didn't file taxes for years. She just called in and they sent her all of her old T4s, we files them all and it was done.

[barmanjay]

He can file late, as far back as 7 years I think.

That's when they will start calling you.

If he gets a refund, good for him, if he owes,... Poor guy.

50% of the initial owing gets put on top (now you owe 1.5x), then it's 5% annual interest on the principal.

Just going off the top of my head from past experience on my late filing.

[Sugarphreak]

...

[davidI]

Originally posted by Sugarphreak


How is it the fault of CRA that they didn't baby sit every person who doesn't take the time to fill out a return?



You don't think their systems should be able to make a simple cross-check that a T4 showing payments over $100k correspond to a name / address of a filed return??

They'll spend thousands of dollars chasing someone down over a calculation that's $40 off but won't even check to see that people making 6 figures file returns? Sounds like a f*ck-up to me!

[Cos]

.

[roopi]

Originally posted by davidI


You don't think their systems should be able to make a simple cross-check that a T4 showing payments over $100k correspond to a name / address of a filed return??

They'll spend thousands of dollars chasing someone down over a calculation that's $40 off but won't even check to see that people making 6 figures file returns? Sounds like a f*ck-up to me!

They do send out letters as reminders for people who haven't filed. Once it reaches a certain point (I believe 4-5 years of no returns) they do send your account to a late filing department and they do start calling to have the returns processed.

To the OP just have him contact CRA as mentioned earlier and they can provide all the missing T4's and other documentation required. Once he's received this he can just go ahead and file the returns.

[shtock99]

My gf just went through this process. She filed her taxes for the last 6 years and she's getting money back. If they owe you money there is no chance they're coming after you or are going to tell you. In some of the years she owed money but I believe that there is a form you can fill out or she just called them and asked, but they waved the interest on the money owed. He just has to call and ask what they need from him and ask them what they can do for him if he owes money.

[dawerks]

If he's not been contacted, he'll be charged a minimum of 5% owing to a maximum of 17%

If he has, he'll be charged double that (plus a little more).

[davidI]

Originally posted by roopi


They do send out letters as reminders for people who haven't filed. Once it reaches a certain point (I believe 4-5 years of no returns) they do send your account to a late filing department and they do start calling to have the returns processed.

To the OP just have him contact CRA as mentioned earlier and they can provide all the missing T4's and other documentation required. Once he's received this he can just go ahead and file the returns.



Originally posted by dawerks
If he's not been contacted, he'll be charged a minimum of 5% owing to a maximum of 17%

If he has, he'll be charged double that (plus a little more).

:thumbsup:

I'm happy to hear this. I travel back to Canada every April just to get my paperwork in order for my accountant. Pain in my ass. I'm happy to at least hear that people don't just 'get-away' with not filing taxes. I always knew you had to keep at least 7 years of files and could re-file for 7 years, but I didn't realize you could take up to 7 years to file the first time. Crazy!

[7thgenvic]

Ask Mar.... He's good at paying taxes... CASH MONEY...

[DJ_NAV]

PM me if you need my accountant's number. He's awesome!