TAX AUDITS NOT ALWAYS CORRECT
CRA DATA SHOWS THE MAJORITY OF TAX AUDITS OVERTURNED!
When most taxpayers receive a Notice of Assessment from the Canada Revenue Agency (CRA), they likely have the following concern: what did I do wrong? That first instinct – although likely well-founded in the human psyche – ends up being a statistically incorrect assumption. In fact, the most recent data from the CRA suggests that the majority of CRA Assessments are INCORRECT and are ultimately overturned on Objection.
This Tax Audits Series Report reflects on this data and its implications and “best practices” for taxpayers.