Hi Folks, my client could not obtain his business previous year T2 and asked my to fill his tax for this year, is this ok to file the tax without being aware about his previous T2
No, I would not… once you have the Auth Rep accepted… per my previously reply… please login into CRA rep a client, from their you should be able to click on the Corp tax return and see majority of lines and schedules filed.
Dump that into last year filed T3 program and assuring the program is calculating the same numbers and you have not forgotten anything… then you can roll it forward and begin.
Big Red Flag client without prior year info… why not?
How you can do Financial Statements for a Corporation without a Balance Sheet?
I would insist the client provide a copy of last years corp tax return, please also look at the minute book to ensure you are dealing with the correct individual with regards to this Corporation.
I also, prefer to send a letter to the previous accountant, stating I have been asked to take over and ask if there are any outstanding issues I should be aware of before proceeding. Also, I ask if the Corp is in good standing with them… ( this means they paid their bill).
I do not RUSH a job just because a client shows up “last minute” paranoid they will have penalties.
My work comes in and goes out in a timely manner, provided the taxpayer provides me with all the pertinent information**.**
In the last two years, I have been evaluating my practice.
If a job is more complex than it needs to be “ is it better to turn down the work” then to stress myself out with taxpayers whom do not care as much as I need them to in order for me to be compliant with my ethics, CRA rules, etc ?
Best of luck…
Sorry all… somehow auto correct changed it to T3 from T2… and I missed it… obviously talking about a corp… btw quite delay between my answer and time it was uploaded
FYI, you can change your original post by clicking on the pencil.
Thanks i forgot as i usually reply from my email… no option on that