Understanding the Voluntary Disclosures Program Rules

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A second chance: that’s what the Canada Revenue Agency (CRA) calls its Voluntary Disclosure Program (VDP). If you or a client made an error on a tax return, this program allows you to correct the error in a way that leaves you on good terms with the CRA. This opportunity helps you or your clients wipe the slate clean while making a promise for future compliance. To ensure fairness in the administration of this program, on March 1, 2018, the CRA implemented new rules that tightened up eligibility for the VDP.

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Original Article Source Credits:    Intuit and QuickBooks  , https://quickbooks.intuit.com/

Article Written By:  Kari Brummond

Original Article Posted on:  NA

Link to Original Article:  https://quickbooks.intuit.com/ca/resources/accounting-news/voluntary-disclosures-program-rules/