February 28th is the due date for the Workers’ Compensation Board (WCB) annual returns. Your February may be filling up fast with all the paperwork required! Filing your return on time is every employer’s duty to assure that the premiums they are paying are based on current and accurate information. Failing to file your return may result in termination of your coverage.
It’s been a very odd year but we all remember what a last call is…right? All jokes aside, you have until March 1, 2021 to contribute to your RRSPs for it to count for the 2020 tax year.
You have filed your taxes and here it is…that brown envelope appears in your mailbox. It’s your notice of assessment. Maybe all is well and your tax return has been accepted exactly how it was filed, all is well and everyone can go on living their lives exactly like before that brown envelope was opened. But what if there is bad news in that brown envelope. What does it mean if CRA has decided to disallow a good chunk of your employment expenses? Why do you owe money back to CRA? What can you do?
As we accountants gear up for tax season, we are fast approaching the yearly CRA annual website maintenance. What this means is that some of the services offered online will not be available from 11:00 pm on Friday, January 22, 2020 until 8:30 am on Monday, February 22, 2021 (Eastern Time). These services include: