While dealing with CRA collections in Newmarket, it is essential to not only find the right solution for your situation, but to also take action quickly.
If you owe back taxes to the Canada Revenue Agency (CRA), you may be subject to certain penalties in addition to having interest applied to the amount you owe. For example, if you do not file your taxes on time and you owe tax debt to this agency, the CRA can impose a filing penalty on the amount you owe, ranging anywhere from 5 to 20 percent. Under regulations set forth in the Income Tax Act, the interest you are charged on an owed tax debt compounds daily.
During the CRA collections process, you may be anxious to manage this debt and find a way to pay it off as soon as possible so that the penalties and interest you owe do not continue to pile up. If you need help finding and solidifying solutions, at Morgan & Partners Inc., we are here to help. The skilled professionals on our team are committed to treating every one of our clients with courtesy and respect.
While dealing with CRA collections in Newmarket, Ontario, it is essential to not only find the right solution for your situation, but also to take action quickly. If you are faced with collection action, we encourage you to not ignore the problem, but to turn to our professionals for help instead.
Contact us at Morgan & Partners Inc. today to find out more about how we manage CRA collections for our clients and how we can help you. With over 25 years of experience in the industry, we are confident we can provide you with solutions you can trust.