Worried About PayPal’s Disclosure To The CRA? Know Your Options!

 

With over 55 years of collective experience working within the CRA, Farber Tax Solutions is uniquely equipped to help you avoid CRA tax penalties and prosecutions.

  • Review your unique tax situation
  • Develop a strategic plan to solve your tax disclosure issue
  • Help you disclose unfiled reports and undisclosed income
  • Prevent penalties, interest and prosecution

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PayPal’s Disclosure To The CRA

 

A federal court order has required PayPal to supply information about their business account holders to the Canada Revenue Agency (CRA).  Effective immediately, PayPal will need to disclose transactional information about individual business accounts from between Jan 1st, 2014 to Nov 10th, 2017.

This disclosure could spell trouble for you if you have a PayPal business account with a large value of total transactions as you may be a prime target to be audited by the CRA. This can lead to you owing a large sum of additional taxes along with hefty penalties and interest.

Fortunately, the CRA Voluntary Disclosure Program (VDP) can help you avoid potential criminal prosecution, penalties along with reduced interest. However, major changing coming next year will limit the program’s effectiveness so it is vital to file as soon as possible.

 

Avoid Penalties & Prosecution Through A Voluntary Disclosure

 

The Voluntary Disclosure Program (VDP) has been one of the CRA’s most effective programs allowing taxpayers to disclose their unreported income to avoid prosecution and penalties. The changes coming in 2018 to the VDP will reduce your ability to avoid potential penalties and even jail time. It is vital to submit your VDP application as soon as possible before time runs out.

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We are the CRA Voluntary Disclosure Program/VDP Experts For Your Paypal CRA Disclosure

 

With over 55 years of collective experience working within the CRA, Farber Tax Solutions is uniquely equipped to help you avoid CRA tax penalties and prosecutions.

Canada Tax Solutions can effectively:

  • Review your unique tax situation
  • Develop a strategic plan to solve your tax disclosure issue
  • Help you disclose unfiled reports and undisclosed income
  • Prevent penalties, interest and prosecution

With great success, we routinely make VDP applications on behalf of individuals and businesses and we can help you too. Owing money to the CRA is not illegal, but failing to file tax returns and not disclosing income is! Let us help you solve your tax problem today.

 

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Client Success Stories

Thank you for all your help and guidance dealing with this horrible issue! I will recommend you to anyone I know that needs a tax solution! I look forward to putting this behind me and moving forward. Thanks again for all your guidance!!

Again I can’t thank you enough! My life has been far more calm in so many ways after meeting with you. I have had many family members and friends mention how happy I seem lately. It’s truly a reflection of your hard work and ability to do your profession so great!”

I don’t even know where to.begin or how to even thank you for lending an ear this morning. Without even seeing any type of documentation to support my situation .. you offered support, guidance and most of all kindness. THANK YOU from the bottom of my heart!!

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