Receiving a letter from the Canada Revenue Agency (CRA) can be stressful, even when your tax filings are accurate.
With increased compliance activity, more taxpayers are being selected for CRA reviews.
To help protect our clients from unexpected professional fees related to CRA enquiries and audits, RMI LLP is introducing Audit Shield.
Why CRA audits are becoming more common
The CRA has expanded its use of data analytics and information matching to identify potential discrepancies in tax filings.
As a result, more individuals and businesses may receive review letters — even when returns are accurate.
These requests can range from a straightforward information check to a more detailed audit.
What is Audit Shield?
Audit Shield is a service designed to cover the professional fees incurred when we assist you during a CRA audit, enquiry, investigation, or review of previously filed tax returns.
Even relatively simple enquiries can require time to gather documentation, prepare responses, and communicate with the CRA on your behalf.
The service provides a fixed, cost-effective way to manage these unexpected costs while ensuring you have professional support when dealing with the CRA.
What types of CRA reviews can be covered?
Coverage may include professional fees related to various types of CRA audit activity, including:
- Personal income tax reviews Corporate tax audits
- GST/HST reviews
- Payroll audits
- Employment compliance audits
- Reviews of certain government programs or subsidies
These reviews can involve requests for documentation, clarification of reported information, or a more detailed audit process.
How does Audit Shield help?
Audit Shield helps protect clients from unplanned professional fees that may arise if the CRA initiates a review or audit.
Key benefits include:
- Protection from unexpected accounting fees related to CRA audits or enquiries
- Professional representation from your trusted advisors at RMI
- Greater peace of mind if your returns are selected for review
Audit Shield for RMI's Clients
We will be reaching out to our clients soon with more details about Audit Shield and how the service works.
If you have any questions in the meantime, please feel free to reach out to the RMI team – we would be happy to help.
Book a consultation with us today or contact us at 403-457-4232 or info@rmillp.com.
