If you have received a notice from the Canada Revenue Agency (CRA), you might be feeling anxious or uncertain about what comes next. Whether it is a CRA audit or a tax reassessment, these situations can be confusing and stressful.  The good news is that education is key. By understanding the difference between a CRA audit and a tax reassessment, you will know how to approach the situation and what to expect. Keep reading to break it down and explore the d…

When you find yourself in the midst of a CRA dispute, deciding between hiring a tax lawyer or an accountant can be a pivotal choice. Both professionals play crucial roles in managing taxes, but their expertise serves different purposes. Here is a guide to help you understand whether a tax lawyer or an accountant is the best fit for your CRA issue. Accountants Accountants are specialists in tax planning, preparation, and filing. They can provide valuable …

Receiving a Notice of Assessment can be a nerve-wracking experience, especially if it contains changes or calculations you do not agree with. Whether you believe there has been an error in the tax assessment or that your financial situation has been misinterpreted, it’s important to know that you have options to challenge this decision. Understanding how to effectively address and appeal a tax assessment in Canada can help you protect your financial interes…

When tax season rolls around, the final step after submitting your return is receiving a crucial document from the Canada Revenue Agency (CRA) known as the Notice of Assessment (NOA). But what is a Notice of Assessment? What does a CRA Notice of Assessment contain? And what do you do if you receive a Notice of Reassessment from the CRA? Keep reading to have your questions answered. What is a Notice of Assessment? Let’s begin by answering the most importa…