Do you Believe you Made a Mistake in Filing your Corporate Taxes?
M7 Taxes Got You Covered!
M7 Taxes will review your documentation and we will help you in your quest. There are options available to choose from. We can pursue a request for reassessment electronically using the latest commercial tax preparation software packages or request a reassessment by sending the bar codes that contain the information needed to reassess your return to your tax centre.
In addition, we can opt for writing a letter to the tax centre that serves the corporation. Clearly identify the following:
the name of the corporation
the corporation's business number (BN)
the corporation's tax year
any details that apply
With the letter, we will include any relevant supporting documents, such as the revised financial statements or the General Index of Financial Information, revised schedules, and so on. You can also choose to ask to carry back a loss or tax credit to a prior tax year, we will help you file whichever of the following schedules that apply:
Schedule 4, Corporation Loss Continuity and Application, to ask to carry back a loss
Schedule 21, Federal and Provincial or Territorial Foreign Income Tax Credits and Federal Logging Tax Credit, to ask to carry back foreign tax credits on business income
Schedule 31, Investment Tax Credit – Corporations, to ask to carry back an investment tax credit
Schedule 42, Calculation of Unused Part I Tax Credit, to ask to carry back a Part I tax credit
We will help you file these schedules with the return on which you report the loss or earn the credit.