What to Expect During a CRA Tax Audit
What to Expect During a CRA Tax Audit: Tax can be a confusing and often stressful area to navigate, and it is easy to make honest mistakes when filling out the forms. These mistakes, accidental or intentional, however, will leave you open to the scrutiny of auditors. What to Expect During a CRA Tax Audit A tax audit is designed to find potential discrepancies in tax return forms to ensure that everyone is paying the correct amount. Here we breakdown the process so that you understand why you may be subject to an audit and what you can expect in the case of an investigation! What is a CRA Tax Audit? The CRA refers to the Canadian Revenue Agency , and audits occur when this agency decides to inspect an individual’s tax returns to ensure that they are paying the correct amount of tax. During this time, the auditor is examining past tax returns for mistakes that could suggest that the individual owes more than they originally paid. Who is more likely to get au...