I know some accountants who refuse to Efile and continue to still paper file, solely to reduce the amount of requests they have to deal with.This is my last post for 2016 and I wish you and your family a Merry Christmas and/or Happy Holidays and a Happy New Year.
However, in most cases, all these slips have been reported, there is just one or two on the three page list that have been reported as perhaps a 50/50 split with a spouse or had an incorrect SIN number.
However, it takes hours to respond to these requests, slip by slip (especially since the financial institutions often summarize income from various sources on T5's, yet report source by source to the CRA. We all accept that the CRA must ensure income tax compliance; however, I wonder if these requests can be streamlined in certain cases?
These requests were fairly benign and just required some information gathering.
This year, many of my clients have received a CRA information request letter asking for documentary back-up of professional fees claimed on their financial statements.
May your 2017, be information request free :) This site provides general information on various tax issues and other matters.