CRA shocks woman by asking her to pay tax on money she hasn't yet earned - News Summed Up

CRA shocks woman by asking her to pay tax on money she hasn't yet earned


woman got a letter asking for taxes on money she hadn't earned, she thought she was being scammed. An estimated 1.8 million Canadians received a letter last month reminding them they may have to pay a tax instalment on income they've earned this year. Most people actually pay instalmentsTillotson said the advance instalment system was created to prevent people from falling behind in their income tax payments. She said the CRA is looking at ways to make 2020 tax payments easier for people but she thinks it could make its message clearer. The CRA charges instalment interest on all late or insufficient instalment payments.


Source: CBC News September 10, 2020 09:00 UTC



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