CRA Audit Assistance
A tax specialist can provide valuable audit assistance when the Canada Revenue Agency (CRA) is auditing someone. Here's a list of ways they can help:
- Reviewing financial records and tax returns
- Organizing relevant documents
- Identifying potential areas of concern
- Acting as a liaison between the taxpayer and the CRA
- Responding to CRA inquiries and requests for information
- Drafting formal responses and explanations
- Gathering and organizing required documentation
- Ensuring all submitted documents are accurate and complete
- Preparing additional supporting materials as needed
- Explaining complex tax rules to the client
- Identifying applicable tax laws and regulations
- Ensuring compliance with current tax legislation
- Attending meetings with CRA auditors
- Advocating for the client's position
- Negotiating with the CRA on behalf of the client
- Reviewing past tax returns for potential mistakes
- Proposing corrections or amendments if necessary
- Explaining discrepancies to the CRA
- Developing strategies to minimize tax liability
- Advising on potential settlement options
- Recommending future tax planning strategies
- Preparing formal objections if disagreeing with audit results
- Representing the client in appeals processes
- Negotiating settlements with the CRA Appeals Division
- Recommending improved bookkeeping practices
- Advising on proper documentation retention
- Suggesting systems for better financial organization
- Implementing changes based on audit findings
- Ensuring future compliance with CRA requirements
- Providing ongoing tax advice and planning
- Interpreting CRA's conclusions for the client
- Clarifying any complex issues or terminology
- Discussing implications of the audit results
- Requesting relief from penalties if applicable
- Preparing arguments for penalty reduction or elimination
- Negotiating with the CRA on penalty matters