The CRA Says It’s Not Too Late To Fix Mistakes If You Messed Up Your Tax Return
Here's what you need to know.👇
Although Canada's tax deadline has already passed, the Canada Revenue Agency (CRA) says it's not too late to fix any mistakes you may have made while filing your tax return.
In a new notice to Canadians, shared via Twitter, the federal agency confirmed that it's still possible to change or update your tax return.
There are two ways to correct any potential issues on your return: Using the "Change my return" section of My Account or by using ReFILE to make changes if you used NETFILE-certified tax software originally.
The CRA suggests waiting until you receive your notice of assessment before asking to make changes. Do not file another tax return for the same year, unless the return you want to amend was a 152(7) factual assessment.
Due to the ongoing COVID-19 pandemic, processing adjustment requests are likely to take several weeks. Requests submitted on paper can take up to 12 weeks to be processed.
If you do need to update your return, check out this list of super common tax mistakes in Canada to make sure you're prepared!