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Receiving a CRA letter can be unsettling, but it doesn't have to derail your financial peace. Our CPAs and tax specialists decode these notices and craft effective responses that protect your interests.
Common reasons
The CRA often sends notices when your reported income doesn't match its records. This includes overlooked stock option income, unreported income from online businesses or platforms, missed CRA transactions, and forgotten dividends.
Our CPAs review your financial documents, identify discrepancies, and communicate with the CRA to ensure accurate tax filings.
Both the CRA and state tax agencies send letters when they believe you should have filed a return. This applies to individuals and businesses, even those with no activity.
We guide you through resolving these issues and filing any necessary returns.
CRA letters may indicate an upcoming audit, especially for those with aggressive deductions or schedule C businesses.
Our CPAs prepare you for the audit, gather the required documentation, and represent you in your dealings with the CRA.
How we work
With a deep understanding of tax regulations and years of experience, we handle the complexities so you can focus on your business and personal life.
We examine your CRA notice and tax records to identify the root cause of the issue.
Our CPAs craft tailored responses to the CRA, addressing every concern with supporting evidence.
We handle all correspondence with the CRA, saving you time and reducing stress.
We negotiate with the CRA to achieve the most favourable outcome for your situation.
We implement strategies to prevent future issues and keep you tax compliant.
Martin & Associates Professional Corporation is rated 5 stars on all major review platforms, including Google, Yelp, Facebook, Angie's List, the Better Business Bureau, TaxBuzz, Thumbtack, Upwork, and Bark.
Speak to a Martin & Associates specialistFAQs
The CRA sends letters for various reasons, usually related to your tax return or account. Common reasons include discrepancies in reported income, unpaid tax balances, and audit notifications. You might also receive a letter if information on your return is missing or incorrect, if the CRA made changes to your filing, or if it needs more information or to verify your identity.
A letter doesn't always mean there's a problem; sometimes it's simply informational.
In 2024, the CRA may contact you about your recent tax filings or ongoing tax matters. Common reasons include:
The letter will clearly state the specific reason.
The CRA will clearly inform you of an audit through an official audit letter. It arrives by certified mail and specifies which tax return(s) and items are under review. It will request specific documents or information, give contact details for the assigned CRA agent, and set a deadline to respond or schedule an appointment.
The CRA never initiates an audit by email, phone, or text message.
The CRA uses complex algorithms to select returns for audit, but certain factors may increase your chances: significant year-to-year changes in income, unreported income, or large charitable donations relative to your income. Home office deductions, cash-intensive businesses, and claiming 100% business use of a vehicle may also draw attention, as can consistently reporting business losses or claiming deductions unusually high for your income bracket.
Specialist service
Overlooked income or missed deductions? We review your original return to correct errors and uncover savings.
Core service
After years of serving clients in some of the largest metropolitan areas, our practice has the expertise to navigate your specific regulatory environment and achieve the outcome you want on your return, with professional integrity.
Core service
A disciplined, integrated approach to corporate tax requires experienced professionals who understand the distinct tax concerns of corporations and partnerships.
Specialist service
Clear, defensible analysis for financial disputes and fraud investigations, to protect your business and its bottom line.
Speak with a tax accountant now.