Frequently Asked Questions About Filing Your Taxes

If you’re new to the process of tax preparation, it can be one of the most frustrating and time-consuming tasks that you’ve had engaged in. For starters, you may have a ton of questions on your mind but find answers difficult to come by. This can cause you to delay the filing of your returns, submit incorrect details, or exceed the submission deadline. At Can-Am CPA Professional Corporation, we understand the challenges you may be facing, and we want to arm you with the most accurate information available to help you out. To do this, we’ve answered some of the most frequently asked questions about filing your taxes.

1. When is the last day to file my taxes?
The last day to file your taxes as an individual is April 30th, and June 15th for small businesses.

2. How long would it take for me to get my refund?
It would generally take anywhere from ten to twenty-one days after the CRA processes your return for you to get your refund. If it takes longer than that, you can log into your CRA online portal to check the status of your tax return.

3. How can I notify the CRA of my address change?
There are three ways to go about this. You can either:

a. Log into the CRA online self-serve portal and change your address under the “My Account” tab

b. Call the CRA at 1-800-959-8281

c. Fill out a RC325 address change request form and mail it to the CRA

4. How do I inform CRA of my marital status change?
You can do this through one of the following ways:

a. Log into the CRA “My Account” tab and change your marital status

b. Call the CRA at 1-800-959-8281

c. Fill out form RC65 and send it to the CRA

5. How do I get a copy of my Notice of Assessment?
You usually receive your Notice of Assessment in the mail shortly after the assessment of your taxes. You can also log into your CRA account online to view and print it.

6. When am I receiving my next benefit payment?
The quickest way to check this is to log into your CRA online account and click on the “My Benefits” tab to view pending benefits and the dates on which they would be received.

7. I have not filed my taxes in a long time. How far back can I file my taxes?
Your taxes can be filed as far back as ten years from the year you are currently filing them.

8. How affordable are your tax preparation fees?
Our tax preparation fees are pretty reasonable and affordable. They are based on the amount of work we have to do on your tax return.

If you have any more questions about tax preparation, get in touch with the experts at Can-Am CPA Professional Corporation. We are a full-service accounting and taxation firm in Toronto, Weston, and surrounding areas. Our firm is independently owned and operated by the finest professionals in this industry. We work hard to help small businesses and individuals navigate through the complex rules, laws, and policies of the Canadian taxation system. That way, they can save more when filing their taxes and avoid getting into trouble with the law.

To learn more about how we can help you, please click here or contact us by clicking here.