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Do you have tax returns not filed as you know you ...
February 2007
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Posted on Tuesday, February 13, 2007

Do you have tax returns not filed as you know you will owe taxes?

Does This Example Sound Like You?

Mr. Roofer was working in the roofing business as a sub-contactor for a couple of companies. As a roofer his income fluctuated depending on the weather and season. As a self-employed sub-contractor, Mr. Roofer was responsible for paying his own taxes. Due to his limited cash flow, Mr. Roofer has not filed tax returns for the last two years, since he know he can't pay the taxes owing. What can he do?

What Can You Do?

Mr. Roofer must file his tax returns with the Canada Revenue Agency (CRA). If he has sufficient income, he can try to negotiate a payment arrangement with CRA. If that isn't possible, you can file a formal proposal to CRA and all of your creditors. The final solution may be a bankruptcy to give you a fresh start. To investigate your options, click here for more information.
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