Settle Your Tax Debt

How familiar does this sound: you owe the Canada Revenue Agency (CRA). You can’t afford to pay the CRA. You’re in a real bind. And there’s no solution in sight.

The good news is MK & Associates offers a wide range of options aimed at settling your tax debt. We negotiate repayment agreements between the taxpayer and the CRA that resolves the taxpayer’s debt issue and prevents Canada Revenue Agency collection action.

Make no mistake: you should not attempt to negotiate with the Canada Revenue Agency on your own. Most times when you contact the CRA directly, they will demand payment in full and will question you with specific strategies in mind, strategies that will lead you to unknowingly disclosing important details they’ll use against you. These include questions that lead you to disclosing where you work, bank and live so that they can proceed to try to collect their money without your consent – and often by the time you find out, it’s too late.

Yes, the Canada Revenue Agency does have the authority to permit repayment plans, under certain financial circumstances. The most common circumstance is when it is unlikely the taxpayer will ever be able to pay the liability in full but can substantiate that they could repay under reasonable payment terms. This is a win-win situation for all involved – the taxpayer and the CRA. The taxpayer can finally breathe a sigh of relief knowing their tax debt has been taken care of with far greater dignity than that of a wage garnishment that involves their employer.

MK & Associates strongly advises that taxpayers avoid personal attempts to deal with the CRA themselves. We are experienced at negotiating with the Canada Revenue Agency , we know their tactics, and also know how to gain momentum for our clients.

Our Tax Team brings decades of CRA experience to the table. Many Canadians have come to MK & Associates with CRA problems. Take the first step towards your overdue peace of mind.