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My Accounting Department: Tax Evasion Penalties

Tax EvasionIf I have self-employment income and have not filed personal taxes for three years, what can happen to me and my family?

Not filing a tax return if you owe money to the CRA (Canada Revenue Agency) is considered a crime and can lead to severe punishment. The CRA can charge you criminally and penalties and interests will be added to all amounts owing.  Penalties for not filing a tax return or other ways of evading the taxman are stiff. The CRA enforcement division efficiently tracks down and prosecutes tax evaders. The best thing to do is to come and see us so that we can assess the actual amount owing, if any. Our team will then prepare a confidential, voluntary disclosure to CRA on your behalf. This process may avoid criminal prosecution and penalties. Read more