First, Service Canada mails Old Age Pension slips into the third week of March.
As for investment income, issuers are still putting them out.
Clients are waiting to have all their slips
Does Revenue Canada really expect us to do a seasons work in six weeks?
You mean the CRA that “demands” a response to stuff within 30 days and then does nothing with it for six months? That CRA?
Yes, they do expect that the season will be done by April 30 and that everyone will simply “make it happen”.
And let’s add on that Manitoba has a major blizzard alert expecting a Colorado low to bring in 30-50cm of snow with winds of 70-90km/hr to start Tuesday night and and start diminishing Friday morning. Hydro is advising to expect power outages and alerts are out to cancel all travel and stock up on necessities.
Sure could use an extra couple of weeks added to the filing deadline.
My wife and I did a big shop yesterday in preparation for that anticipated snow storm. This is the winter that just doesn’t want to leave, and it’s putting up a good fight to stay! I totally agree that we could use a few extra weeks of processing time. I’m massively behind and have turned away a client or two knowing that I won’t be able to complete their taxes by the deadline.
I have not taken on any new clients this year - been turning them away left right and center as I simply don’t have the capacity to do more than I am already committed to from prior year clients. It looks like I will get everything done by April 30th that has to be done (owing or has T1135’s) but I will be doing taxes well into May and June probably for those that have refunds or are not due until mid June.
What I would love to have is an equivalent to the US’s system where you can extend returns simply by efiling an extension form for any that are not done by the official deadline. No reasons are needed. The IRS charges interest on any amounts due on April 15th but no late filing penalties as long as you get it filed by October 15th. The client can avoid interest charges by paying any amounts due to their installment account before the April 15th deadline. This is handy when waiting for slips or simple work overload means it won;t get done by the April 15th deadline.
Especially when the taxpayer in question receives the LETTER 6 days before date due…
I move that Taxcycle send this thread to the Minister of Revenue
The Minister is a “useful idiot” unfortunately. An ex-social worker entrusted with the CRA, and most of what she does is give away taxpayer money in her riding in Gaspe. Her pronouncements on tax in her tenure since 2015 have been less than glorious, and frequently inaccurate.
I miss the days when the Revenue Minister actually understood tax - and since the breaking into a Commission with Bob Hamilton at the helm, the management of CRA seems to have crumbled. They are panicky and fearful in the extreme of “somehow” information escaping (one reason all SINs are masked in RAC - a requirement made by the Big 4)…and at the same time, they have proven incapable of going after big evaders (Panama, Pandora, Paradise Papers and KPMGscam).