The Canada Revenue Agency is reminding everyone there are penalties involved if you don’t file income tax returns.
Blair A King from Riverview found that out recently after being fined $3,000 for outstanding returns.
King was fined $1,000 for each year he missed from 2010 to 2012.
He must pay the fine and submit his outstanding returns within 6 months.
The CRA says they have a voluntary disclosure program which gives taxpayers a second chance to make things right if a mistake or omission was made.
If you make a valid disclosure before the CRA takes action, you may have to pay only what’s owed plus interest.
