Recovering GOLD on prior year tax returns

February 12, 2021 | Mike Biette

It may sound too good to be true…. however, if you have missed eligible tax credits in the past ten years, you may be able to go back and reclaim them!!!

Have you been preparing your own tax returns or taking them to an amateur? You may have missed out on hundreds or even thousands of dollars of extra refunds! The Canadian tax laws take up a 2,500 page book with micro-sized font (much larger than the Bible) however, there are weird people who love to study this stuff and find all the hidden secrets on how to pay less tax (legally). The good news is – it may not be too late… taxpayers can request adjustments to prior filed tax returns within ten years from the end of the taxation year being adjusted. This is a great way to recover “gold” from prior years. Many taxpayers miss claiming all the deductions and credits they are entitled to.

Not sure if you’ve claimed everything you’re entitled to? TaxTeam has assisted hundreds of new clients recover hundreds and in some cases thousands of dollars of extra tax refunds on prior year returns. Come in and see our friendly professional staff to see if you have any “gold” to recover from prior years.

A tax professional at TaxTeam can discuss this and other credits and deductions that may affect your taxes. Call 306-694-4829 or visit www.taxteam.ca