The Taxperts Group Warns of Potentially Harsh Tax Penalties and Audits

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The Taxperts Group warns U.S. citizens who are living in Canada of major tax penalties they will face if returns are not filed immediately.

Toronto, Canada, February 12, 2014 - (PressReleasePoint) -The Taxperts Group warns U.S. citizens who are living in Canada of major tax penalties they will face if returns are not filed immediately. The IRS has put out an announcement that audits will begin immediately for these U.S. citizens. The legislative forecast and ramifications developing from this can have long-lasting effects for those citizens living in Canada who have an obligation to file their tax return in the United States but have not yet done so.

According to The Taxperts Group, the window for filing U.S. taxes is closing quickly and action has to be taken to avoid the harsh penalties. If the opportunity to file on time is missed, the IRS will locate those U.S. citizens living in Canada and penalize them. The Taxperts Group offers a solution and provides citizens with the option to contact their reliable, accredited and professional U.S. accountant for immediate consultation.

In Canada, the CRA is also aggressively conducting audits and evaluating gross negligence penalties of half of the taxes owed. One particular area of interest has been the real estate industry. They are demanding that home buyers return the rebates that were granted to them in previous years. According to The Taxperts Group, the CRA has also been calling on Canadian real estate property sellers to reassess their taxes, resulting in large penalty amounts. Many Canadians are uninformed and unquestioningly pay the amount, even though they are qualified. The Taxperts Group offers assistance to inform Canadians as to whether or not they qualify. A company representative states, “Our unique set of skills can help you navigate any tax problem.”

The Taxperts Group helps individuals navigate through a CRA audit and the complexities of the tax filing system in Canada and the United States. Anyone who would like more information about the company can visit the The Taxperts Group website or call 1-416-493-0444.

About The Taxperts Group: The Taxperts Group has provided taxation services for more than three decades. The company specializes in a wide range of taxation services, including T1 personal tax returns for Canadian residents and T2 corporate returns and audits for small corporations. The Taxperts Group includes a U.S. accountant with CPA qualifications, offering tax preparation for individuals, real estate investors, high-earners and self-employed residents living in and outside of the U.S.

Finance, Canada

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