#CanadaTaxPayers; #CanadaTaxProfessionals, #TaxFilingDeadline
Ottawa/Canadian-Media: Canadian taxpayers as well as tax professionals are facing struggle to meet April 30 a tax filing deadline during one of the most complex tax seasons in the middle of a global pandemic and widespread lockdowns.
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The federal government's refusal to extend the deadline of filing taxes as it did last year to May 31 and to suspend late payment penalties until September, has left the taxpayers and the tax professionals struggling to meet the dead ling in the midst of the pandemic.
Taxpayers who received benefits and made less than $75,000, said the government, won't have to pay what's owed until April 30, 2022, and added that file late, they will face the normal penalty of 5 percent of the balance owing, plus an additional 1 percent for each month after.
Most vulnerable taxpayers who can least afford to pay penalties are the ones to suffer most from the Government's decision not to extend the deadline, warned the tax professionals.