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Tax Audits and Compliance
Tax audits and compliance serve to verify that your declarations, records, taxes, supporting documents, and tax obligations are accurate, complete, and consistent. For both businesses and individuals, compliance is not limited to submitting a declaration on time.
It requires keeping the right documents, declaring the appropriate income, justifying expenses, and properly responding to federal and provincial obligations.
Impôts ici assists taxpayers and companies who wish to secure their tax situation before an error leads to consequences. Our approach identifies discrepancies, corrects sensitive points, and better prepares for any inquiries from the Canada Revenue Agency or Revenu Québec.
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Tax Audits and Compliance
Verify Compliance Before an Official Request
A tax compliance audit is a preventive measure. It allows you to review your accounting and tax practices before an authority requests explanations. This verification can focus on income tax returns, GST and QST, source deductions, business expenses, taxable benefits, payroll records, or claimed tax credits.
This process is particularly useful when a business is experiencing rapid growth, changing accountants, accumulating delays, preparing for a sale, or suspecting that certain files have not been handled correctly. It allows you to take control of the file rather than react under pressure.
Tax Audits and Compliance
Examine Income, Expenses, and Supporting Documents
Tax compliance relies on the quality of the information reported. Income must be complete, expenses must be reasonable and related to the activity, credits must be supported by the right documents, and records must allow for tracing operations. A missing invoice, a personal expense mistakenly included, or a misclassification can become problematic during an audit.
Impôts ici analyzes the available documents and identifies risk areas: rental income, home office expenses, vehicle costs, meals, subcontracting, transactions with shareholders, advances, dividends, taxes, and unusual entries. The goal is to distinguish necessary adjustments from already compliant practices.
Secure Corporate Declarations
Corporations must comply with specific tax obligations. The T2 return, provincial return, schedules, provisional payments, taxes, payroll, and slips must be consistent with financial statements and accounting records. An inactive corporation, a startup, or a corporation with no tax payable may still have filing obligations.
A compliance audit allows you to verify whether corporate declarations accurately reflect actual activity. It can also reveal errors in shareholder loan balances, capitalized expenses, dividends, salaries, or year-end entries. These elements must be corrected methodically to avoid chain reactions.
Reduce the Risk of Penalties and Interest
Tax penalties and interest can result from late filing, insufficient payment, a missing form, an incomplete declaration, or a repeated error. The longer the error persists, the more complex the correction can become. A preventive analysis allows for a quick assessment of what needs to be corrected and in what order to act.
In some cases, a simple request for modification may suffice. In others, a more structured approach will be necessary, especially if multiple years are affected or if significant amounts are involved. Impôts ici helps you choose the right path: correction, new filing, adjustment request, update, or assistance in a more formal process.
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Tax Audits and Compliance
Prepare for a Tax Audit
When a request for information or a notice of audit is received, it becomes essential to organize documents and understand the scope of the request. A prior internal audit allows for preparing responses, verifying figures, and avoiding the transmission of incomplete or poorly presented information.
This step differs from tax representation. The audit and compliance aim first to establish the state of the file, identify weaknesses, and produce a solid working basis. If exchanges with authorities become more complex, tax representation can then take over to manage communications and defend your position.
Tax Audits and Compliance
Support for Achieving Orderly Taxation
Tax compliance brings peace of mind. It allows you to better understand your obligations, clarify your files, and reduce risks related to past errors. For businesses, it also improves the quality of financial information used for decision-making.
Impôts ici supports you in auditing your tax practices, reviewing your documents, identifying risks, and implementing corrective measures. Whether you are an individual, self-employed, corporation, or organization, our team helps you build a more rigorous and well-documented compliance.
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Tax Audits and Compliance with Impôts ici
Tax compliance brings peace of mind. It allows you to better understand your obligations, clarify your files, and reduce risks related to past errors. For businesses, it also improves the quality of financial information used for decision-making.
Impôts ici supports you in auditing your tax practices, reviewing your documents, identifying risks, and implementing corrective measures. Whether you are an individual, self-employed, corporation, or organization, our team helps you build a more rigorous and well-documented compliance.