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Level 1
March 3, 2024
Question

Federal Tax variance

  • March 3, 2024
  • 2 replies
  • 5 views

I have had clients come back to me to say that what CRA assessed them for was different from what I filed.  When I investigated it, the discrepancy is the Federal Tax, one client had a difference of almost $400.00 lower than what Profile Assessed.  I redid the taxes only to get the same result.  Is CRA off or is Profiles formula's off?

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2 replies

Level 11
March 6, 2024

Please call the helpline. You will need the Notice of assesment and the tax file so that we can compare.

Level 4
March 6, 2024

When something like this happens, I pull the NOA from the CRA website and start comparing with what Profile has.  It's not the easiest process, as CRA gets creative in where they group things.  But it's a necessary step to try to reconcile the two reports.

 

Jo