Failure To File Income Tax & Penalty for Not Filing Taxes

If you owe tax for 2009 and do not file your return for 2009 on or before April, 30 2010, then the CRA may impose penalties and interest. They will charge you a late-filing penalty. The penalty is 5% of your 2009 balance owing, plus 1% of your balance owing for each full month that your return is late, to a maximum of 12 months. Your late-filing penalty may be higher if you were charged a late filing penalty in any of three previous years. Liberty Tax Canada strongly suggests that, even if you can not pay the entire amount on April 30, that you still file to avoid the late filing penalty.

Our Tax Specialists are prepared to help you. Please contact your local Liberty Tax Canada office for more information.