After April 30th: Assessments, Reviews, Adjustments and Planning – AC Recorded Webinar

In this session, we will discuss what happens after the returns are filed and we’ll also discuss tax changes coming for the 2024 tax year. 

Once the returns are filed, your work continues as you follow up on the 2023 returns that need adjusting or deal with CRA enquiries and challenges. 

Join Maureen Vance CPA, CA for a discussion of the best practices with respect to dealing with CRA reviews, submitting adjustment requests, filing objections, and requesting relief, as well as some tips for practice management.  Also reviewed are some of the 2024 tax changes that could impact your clients. 

TOPICS:

• Notices of Assessment (NOA)
  • When are notices delivered electronically?
  • My Account notification preferences
  • Using E-NOA
  • Using the Notices feature in Represent a Client
• Requesting Adjustments and Objecting
  • Using Change My Return
  • Using ReFile
  • Best method for requesting adjustments
  • Reassessments
• CRA T1 Reviews
  • Electronic notification of reviews
  • Types of CRA reviews
  • Most common CRA review requests
  • Anticipating and preparing for CRA reviews
  • Responding to review requests
• Objections
  • Options for filing an Objection
  • Time frames for objections
  • CRA Progress Tracker
• Taxpayer Relief and Voluntary Disclosure
  • When relief is available
  • Criteria for Voluntary Disclosure
• Managing your Authorizations
  • Multiple representatives
  • Cancelling authorizations
  • Removing former clients
• Preparing for Next Tax Season
  • 2024 tax changes you should be discussing with your clients
  • Status of CRA guidance on various tax issues 
     

LEARNING OBJECTIVES:

• Become familiar with the most common reasons for CRA reviews
• Understand the different methods of requesting adjustments
• Be aware of 2024 tax changes that you can start planning for now
   

TARGET AUDIENCE:

This webinar will be of most interest to accountants and tax practitioners that prepare personal tax returns. 

PROFESSIONAL DEVELOPMENT CREDITS (CPE HOURS):

Wolters Kluwer professional development programs are designed to meet the continuing education requirements of a variety of professional associations. These requirements do vary by association and region. Please consult your provincial association to ensure this webinar meets the continuing professional development standards for your specific situation. 

PRESENTER:

This webinar is being presented by: Maureen Vance, CPA, CA

Maureen obtained her CA with Peat Marwick Mitchell (a predecessor of KPMG) and joined Taxprep (now part of Wolters Kluwer) in 1985. She completed the CICA In-depth tax course in 1991, and since 2002, she has been a consultant to Wolters Kluwer on tax and compliance issues.

Maureen researches and writes material on tax planning and compliance and presents seminars and webinars on various tax and software topics to accounting firms across Canada. She is a member of the CRA-CPA Canada Technology Working Group, a contributor to the CPA Canada Tax Risk Management Guide, a contributor to the Wolters Kluwer publications Preparing Your Income Tax Returns, Preparing Your Corporate Tax Returns, Preparing Your Trust Returns and Preparing Your Partnership Returns and a frequent contributor to the Wolters Kluwer Canada publication Tax Topics.