A tax audit is defined as an examination and evaluation done by the Canada Revenue Agency (CRA) or other tax-collecting authorities to determine if a taxpayer, whether a single individual or a business entity, has paid the correct amount of tax. Tax audits are made by the CRA to ensure that all Canadians are paying the correct amount of tax which they are expected to pay.
Tax Audit Lawyer
In the event that you receive an audit notice from the Canada Revenue Agency (CRA), you should know the rules as well as the rights that you have. But who can you turn to for a legal advice such as this? A lawyer specializing in tax audit is the person to contact in times like these.
First of all, a tax audit lawyer will sort out and assess the complications brought about by your unresolved tax issues. In conjunction to this, he will analyze your tax returns and recommend necessary changes either in your business structure or the processes through which you make transactions. Furthermore, he will clearly explain the tax law and how it may apply to your situation. Sometimes, individuals or companies have trouble with the CRA’s audits not because they avoid tax on purpose, but because they have vague and little understanding of the laws regarding tax audits.
For this, a lawyer specializing in tax audit can address any question which his client may have regarding issues on tax. After carefully analyzing the tax problem and explaining the tax laws, the tax lawyer will negotiate with the CRA and propose an agreement which would be favorable to both his client and the tax agency. He may do this by representing his client in court and finding parts in the tax law which can support his client’s interest.
Lastly, he will help his client prevent future tax audit problems by keeping his client updated and well-versed about the changes made in the tax law and how the changes could affect the client. Canadian tax laws change and become more complex yearly. Therefore, it is a safe move to be always aware of the ramifications of these changes, and a good tax audit lawyer can help you on this.
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