Today is Tax Day

May 2, 2016  /  Consumer Proposal, Personal Bankruptcy, Tax Debt

Of the two certainties in life, today we’re dealing with tax. Not because there’s anything special about tax generally, but only because today is the deadline to file your 2015 personal income tax return.

If you haven’t already filed, try to get your return in by midnight tonight, or else you may be subject to late-filing penalties and interest on any balance you owe.

If you already owe tax, you likely know that the CRA can cause a lot of discomfort. Between harsh letters and collection calls, there can be wage garnishments, bank freezes, and even seizures of property.

Now, the best remedy to cure the CRA’s harsh tactics is to pay the tax. But what if you can’t afford to pay the amount that the CRA says you owe, after they’ve piled on penalties, interest, and interest upon interest?

Many people struggle desperately in this situation. They struggle through wage garnishments of 30%, 40% or more. They struggle with the embarrassment of their employer knowing that they owe tax. Most importantly, they struggle financially, because a very large chunk of their paycheque is being automatically deducted by their employer and sent to the CRA. We see people in this exact situation every day.

When they haven’t called after hearing our radio ads, people are most often referred by accountants or lawyers. And most times we speak with people, they are unaware that there are legal ways to completely eliminate their debt, including their tax debt.

The solution to tax and debt issues is often as simple (and quick!) as a consumer proposal, or even bankruptcy. These solutions were designed to help people get relief from their creditors, and emerge from the process completely debt-free.

Both processes start with a call to a trustee, a federally-licensed professional with the training, qualification and experience to evaluate your situation and advise of the benefits and expectations under the various approaches.

The professionals at Ross Advisory Group, licensed insolvency trustee have that expertise. And because a very large number of the people we see have some sort of tax debt, we are well equipped to help you eliminate your debt, including your debt to the CRA.

If you are suffering with tax debt, or any other debt, give us a call today at 416-800-8756 to begin a new journey to complete debt elimination.

Comments (0)