My Writing > Put a Lid on It

Thinking about claiming missed credits from past years?
12 Oct 2007

Originally Published by The TaxLetter Vol. 25, No. 10, October 2007   www.adviceforinvestors.com

 

Put a Lid on It
Thinking about claiming missed credits from past years?

 Eileen Reppenhagen

 

What does fall clean-up conjure up for you? Perhaps it is your garden, the garage, that pile of leaves? Fall is when a certain type of person surfaces in my world: taxpayers who feel they need maintenance on past tax returns or scofflaws who want to come clean after years of noncompliance.

The other day another accountant from east of me (everyone in Canada is east of me unless they are from the “Island”) wrote to complain that every time he assists a client with a Disability Tax Credit claim on a form T2201, the reply from the Benefit Programs Section states how many years you are eligible to claim. It then adds a note that if you want to be reassessed for any previous years for which you may have been eligible (as many as 10 years under fairness provisions), to please send in a Form T1-ADJ — “T1 Adjustment Request” for each year or a letter containing the details . . .

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Eileen Reppenhagen, Certified QuickBooks ProAdvisor writes and speaks about accounting and tax.  She is a regular contributor to Canadian MoneySaver, The TaxLetter and Intuit’s award winning online publications for accountants and QuickBooks ProAdvisors, ProConnection Newsletter and Advisor Advantage.  

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