What will it cost?
If a law firm quotes you outrageous legal fees, you may paying for the firm's advertising costs. There are some large firms that advertise just about everywhere....newspapers, magazines, TV infomercials, radio etc. Do not be swayed by high pressure tactics.
Legal fees involve interviews with the taxpayer, writing letters to CRA to negotiate the terms of the Voluntary Disclosure or Tax Amnesty. Don't be pressured into signing with these lawyers - check around. In most cases legal fees should be around $2,500 to $5,000.
The accountant does more work for the taxpayer than the lawyer. Accounting fees are based on the complexity, extent of the work and number of years that unfiled tax returns need to be filed. This includes tax planning to minimize you taxes payable, as well as filing income tax returns, payroll, GST & PST filings.
Often, when a corporation is involved, we provide advice on the share structure and ownership. We analyze the tax situation of the corporation as well as the shareholders to minimize the overall tax liability.
When it comes to unfiled or delinquent income tax returns, Tax Amnesty Accountants ( Canada ) is the only Canadian Chartered Accountancy Firm that specializes in "Accounting and Taxation for Voluntary Disclosures", with over 80% of our practice in this area.
