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Level 1
March 22, 2024
Question

Amount owing from reassessment

  • March 22, 2024
  • 1 reply
  • 8 views

Is there a way to enter the amount owing from a reassessment? My client was not aware he had been reassessed and now CRA wants the money back. Do they automatically take it when I e-file his 2023 return? 

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1 reply

Level 7
March 25, 2024

If you wish, you can add the balance owing into your tailored client letter.  If a taxpayer has a prior year balance owing then yes, CRA will either deduct that balance from the current year's refund or will just show the total owing on the Notice of Assessment for the current year.