Every year, individuals and businesses are tasked with gathering the necessary documents and receipts needed to make it through another tax season.
While there are significant differences between personal and professional income tax filings, they also share commonalities — from specific filing dates to the potential for tax audits that year.
One of the most significant remedial components of tax law is the presence of the Voluntary Disclosure Program or VDP. This policy involves taxpayers making corrections or adjustments to already-filed income tax returns or dealing with unfiled tax returns.
The program is essential for anyone looking to rectify their tax return problems and avoid an audit. Professional income tax lawyers are often sought out to help facilitate the process.
This guide aims to provide context and insight into the benefits of hiring a tax lawyer and how they can help through the Voluntary Disclosure Program with ease and accuracy.
They’re the Experts
While you may have a general understanding of what’s required for the Voluntary Disclosure Program, tax lawyers are experts in their field. A licensed tax lawyer understands the nuances and what can happen if filings aren’t completed on time and with the right information.
Specifically, tax lawyers understand the details of the program and can help their clients navigate their claims and audits — with tax rules changing constantly, a licensed tax attorney ensures you never misread or misunderstand today’s tax requirements.
They Can Help Determine Qualifications
When it comes to any filings related to your taxes, it’s important to know what you qualify for before going through the application process — this is especially prevalent with programs such as voluntary disclosure.
Voluntary disclosure is designed to grant relief for taxpayers making corrections or amends to their filing but under certain conditions. Working with an experienced tax lawyer that specializes in this program is the most effective way to ensure you’re on the right track.
Protection from Intimidation
In some cases, if the CRA does not consider your submissions as complying with the conditions of the program, you may be subjected to an audit.
While tax auditors and agents generally conduct themselves in a professional manner and are polite when addressing taxpayers directly, there is still a chance that your agent is less than professional or is taking advantage of the fact that you’re navigating your filings independently.
As a result, you may experience intimidation or pressure that you’re unequipped to handle. The tax lawyers and voluntary disclosure specialists at CanadianTaxAmnesty.ca recommend using a tax attorney to deal with auditors and agents directly, so you never have to worry about stepping into this type of environment.
They’re Your Negotiator
Tax lawyers are there to work on your behalf — whether it’s simply filing your yearly taxes, dealing with a claims auditor, or navigating the Voluntary Disclosure Program and its entire process.
Your lawyer can speak with the parties involved on your behalf, ensuring information isn’t lost in translation and there are no misunderstandings throughout the process.
Read Also:
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