Corporate Tax Planning

In a “Game Changing” Move, the CRA Seizes Property Following Sentencing for Tax Evasion

Earlier this fall, the Canada Revenue Agency (CRA) seized six rental properties as well as a car belonging to two Ottawa residents recently charged with tax evasion. This marks the first time that the “proceeds of crime” provisions of the Criminal Code were used in a situation of tax evasion. Until this case, these provisions have only been used in cases involving money laundering or suspected terrorist financing. What Happened? The two taxpayers in… Read More

Corporate Tax Planning

Auditor General: CRA Not Treating All Taxpayers Equally in Audits and Reviews

According to a new report by the federal Auditor General, the Canada Revenue Agency (CRA) is not treating all taxpayers equally when it comes to auditing or reviewing tax files. Taxpayer Bill of Rights The Canada Revenue Agency has a Taxpayer Bill of Rights which is intended to build on the CRA’s corporate values of professionalism, respect, integrity, and collaboration and further, is intended to protect taxpayers from inappropriate treatment and to protect… Read More

Tax Disputes & Litigation

Investigation Reveals that CRA Employees Have Been Accessing Taxpayer Information on an Unauthorized Basis

According to an investigation by CBC News, employees at the Canada Revenue Agency (CRA)  have committed privacy breaches and have continued to “snoop” on the confidential tax files of their partners, spouses, colleagues, neighbours, and others. CBC obtained ten months of internal reports which showed the files of at least 10,000 Canadians were compromised by CRA employees, who used their privileged access to government databases to access taxpayers’ private financial affairs. This occurred despite… Read More

Personal Tax Planning

IRS Announces a “Use it or Lose It” Provision for Current Estate and Gift Tax Exemptions

Earlier this week, the IRS announced that taxpayers taking advantage of the increased gift and estate tax exclusion amounts in effect between 2018 and 2025 will not be adversely impacted when the exclusion amount is scheduled to decrease to pre-2018 levels  in 2025. Gift Taxes, Estate Taxes and the Exclusion Amount Gift and estate taxes apply to transfers of money, property, and other assets. These taxes are calculated using a unified rate… Read More

Corporate Tax Planning

New IRS Commissioner Outlines Goals for his Term

Earlier this fall, the Senate confirmed President Trump’s pick to head the Internal Revenue Service (IRS). Charles Rettig previously practiced tax law in California for more than 36 years. During that time, he often represented taxpayers in disputes with the IRS and was a member of the IRS Advisory Council (IRSAC) for three years beginning in 2008, and served as IRSAC’s chair from 2010 to 2011. Rettig was confirmed as Commissioner of the… Read More