Understanding the Voluntary Disclosures Program Rules
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.
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/