CRA Audits: What to Know
CRA audits can be an intimidating experience. But don’t worry, we’re here to guide you through it. In most cases, CRA audits are a routine procedure and nothing to fret over. In this blog post, we’ll go over what you need to know to make the process as smooth as possible. We’ll also give you some tips on how to prepare for an audit. Plus, what to do if you’re contacted by the CRA. Read on for everything you need to know about CRA audits. What is a CRA audit? A CRA audit, or a tax audit as it is commonly known, is a review of an individual tax return. The CRA can audit corporate tax returns or other special types of returns, such as sales tax returns. The purpose is to ensure all of the information provided is accurate and in compliance with current tax laws. This process involves reviewing all of the documents submitted with the tax return.
Continue reading