Do you have a debt owing to the CRA? Does the CRA feel like a loan shark?

The CRA’s power to collect taxes dwarf those of your other creditors. You have to be aware of the risks and be able to assert your rights.

If you are indebted to the CRA, they can:

Seize or Freeze your bank accounts

Garnish your wages

Garnishing of other income sources (ex. receivables)

Lien your property or force its sale

Seize or sell your assets

A certificate/debt is registered by the CRA with the Federal Court, with the same effect as a legal judgment against you. Also, the CRA is not obligated to inform you of these proceedings. A notification may or may not have been delivered to you, and you may be unpleasantly surprised.

Based on a certificate, you are either required to pay the total amount claimed or risk having your property and other assets seized. It is vital that you get help from a professional if you owe the CRA money or they’ve obtained a certificate against you.

If a notice arrives claiming a tax debt, Faris CPA will help you understand if and why you owe the CRA money. We can design a plan to get you back in financial shape and avoid bankruptcy.

If paying the total amount owing is not an option, we can help negotiate a favourable payment plan that enables you to live your life on your own terms, not on the CRA’s. We can also arrange a stay of collections requiring the CRA to stop legal actions against you.

Don’t let the CRA push you around. Contact Faris CPA today at 1 844 340 5771 instead. We will help you understand and exert your rights.