When taxpayers receive the dreaded tax notice that their tax return or their business is going to be audited and examined, the first thing they should do is seek professional tax advice. Same thing when taxpayers receive collection letters threatening their wages or paycheques, or the tax levy letter for their bank account, taxpayers should seek professional tax advice to resolve their tax problems. Continue to read on to learn about which tax issues can arise as a result of failed payments, and how you can rectify them.
Some tax issues you may face are:
- Penalties - this is usually a result of late payments and filing inaccurate tax forms/returns.
- Unpaid taxes - when you owe money but cannot fulfil payments due to various reasons.
- Non-filers - incomplete tax forms that have not been...