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FORM RC4288E Request for taxpayer relief (Assorted Topics)

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Re: FORM RC4288E Request for taxpayer relief (Assorted Topics)

Post by peep on Mon 17 Mar 2014, 11:31

Well its done. Sent in my income tax and included the T1198 and the Request for Taxpayer Relief. Now will they still want 42% of my return back? Only time will tell.
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Re: FORM RC4288E Request for taxpayer relief (Assorted Topics)

Post by Guest on Sat 08 Mar 2014, 08:04

good 4 you big rex im glad to here it I really hope hey both help. if not well at least you cant loose anything.

propat

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Re: FORM RC4288E Request for taxpayer relief (Assorted Topics)

Post by bigrex on Fri 07 Mar 2014, 21:49

Well , I am going to be filling out both the 1198 and the tax relief form because if I filed my retro this year, along with my CF pension, ELB and PIA, TurboTax has me owing over $4000, even with pension splitting and the DTC, among other deductions. So if I can have the retro spread out over 06 and 07, when all I had was CF pension, the 30% withholding tax, should more than cover what I owed, especially if there is no deemed taxes/interest/penalties included in their calculations.
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Re: FORM RC4288E Request for taxpayer relief (Assorted Topics)

Post by Guest on Fri 07 Mar 2014, 19:11

LTD4me, I agree with you 100%, this is what we are here for, we must welcome all points of views, as this makes for some good constructive discussions.
So I thank you for your post, and your help, as it is much appreciated.

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Re: FORM RC4288E Request for taxpayer relief (Assorted Topics)

Post by Guest on Fri 07 Mar 2014, 19:08

im in full agreement free speech is great aint it.

propat


Last edited by propat on Fri 07 Mar 2014, 19:18; edited 1 time in total

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Re: FORM RC4288E Request for taxpayer relief (Assorted Topics)

Post by LTD4me on Fri 07 Mar 2014, 19:03

Trooper no Disrespect taken actually i encourage you and everyone to voice their opinions, it is actually welcomed, everyone's opinion counts, as they say there is no I in team..... and together we are a team

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Re: FORM RC4288E Request for taxpayer relief (Assorted Topics)

Post by Guest on Fri 07 Mar 2014, 18:55

propat, I posted what I believe, and that's as far at it goes, like I have stated at the end of my post, " This is just the way I see it, and I think I am entitle to that, so no disrespect to those who do not see it my way "








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Re: FORM RC4288E Request for taxpayer relief (Assorted Topics)

Post by Guest on Fri 07 Mar 2014, 18:37

trooper in YOUR CORRECTIONS well I don't see any my whole plan for well over a year now was to seek relief from the deemed tax ive never here'd tell of seeking relief from an 1198 that's actually the first time ive hered that anywhere.

point 2 you belive no deemed tax will be allied in the 1198 that is in my mind a disagreement not a correction as I belive it will.

as for the rest its the same stuff ive been saying for well over a year.

propat


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Re: FORM RC4288E Request for taxpayer relief (Assorted Topics)

Post by Guest on Fri 07 Mar 2014, 17:04

propat, LTD4me, absolutely I am all for what you believe in, you are both fighters, and have both proved that you will not give up the fight, that's always Ok in my books
You both provide intelligence and determination with your post, and by the way, my hats off to both of you for showing such great dedication in helping out all members and guest of the forum. Please keep em coming.

My post was simply made as a personal view, it is just the way I see it, and yes if one feels that they can benefit from sending it in, by all means, go for it, I am not reflecting discouragement, at least that was not my intention, I was just speaking my mind, as I always do, no more than that.

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Re: FORM RC4288E Request for taxpayer relief (Assorted Topics)

Post by LTD4me on Fri 07 Mar 2014, 16:35

Trooper

Just a few corrections from YOUR post

1) not asking for relief from the T1198 asking for relief from using the "notional interest mechanism" (all together different thing) which is used to calculate tax from the figures off the T1198

2)The intentions of the CRA when devising the qrlsp calculations was to impose a FAIR alternative to claiming income all in one year, i contend that the implication of the notional tax is not a fair assumption in our case.

3)It is obvious that whether you do your taxes calculated all in 2013 or using the alternative method (T1198 calculation) we will ONLY pay or get back which ever method is in OUR best interest. So if there is a way to make our best interest better it would be in my opinion be foolish not to try.

4) There are some people who will say yes we don't have to pay interest or penalty now so why worry about it, and they have the right to say that. What I and other people are trying to say is why not try to enhance our best interest tax wise if in any legal way possible, it it does not hurt your income tax return outcome what harm has been done in trying.

5) I challenge anyone to prove that filling out a RC4288 would be detrimental to us in ANY way shape or form.

6) The best analogy I can think of to filling out the RC4288 would be like buying a lottery ticket... you can't win if you don't play, just like you cant get any benefit if you don't fill out the form, the only difference would be you have to pay for the lottery ticket the RC4288 form is FREE to fill out.....

No disrespect intended, these are just an expression of my views and any of the long haulers here, know i have lots of views...


Last edited by LTD4me on Wed 08 Oct 2014, 15:17; edited 1 time in total

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Re: FORM RC4288E Request for taxpayer relief (Assorted Topics)

Post by Guest on Fri 07 Mar 2014, 16:32

trooper I agree with most of that but for 2 points.

I think there is a small chance right off as they are taken on a case by case bacis.
plus if someone challenges the act in the near future because of this and wins you have the paperwork saying you applied.

point 2 you are claiming relief from deemed tax (on the form im using the words interest portion of the QRLSP for leagal reasons) these are real and large.

say for a guy getting over 400,000 retro with not a lot of taxable income in those retro years.

the 1198 will not help him so he can end up paying close to 200,000 on the 2013 instead of the close to 100,000 if the deemed tax were not charged that's around 100,000 frackin bucks.

if you think you have any chance whatsoever of putting that kind of coin back in your pocket don't you think you gotta take the ten minuets it takes and try.

and if you think this avenue exists to you don't you think someone should at least let you know so you can make your own decision.

propat

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Re: FORM RC4288E Request for taxpayer relief (Assorted Topics)

Post by Guest on Fri 07 Mar 2014, 16:13

yes ltd I agee and yes that was call of duty he actually took them to court over this but could not finish I don't recall why I think it way lack of funds. but before he stopped he did have the judge saying after the deemed tax/interest arguments if it walks like a duck and talks like a duck well its a duck. so im thinking at least in a court battle this may be a better route as by the same legislation the interest portion of the QRLSP calculations are not considered penalties either but like you said you got two shots at this and im sure I will use both routs eventually.

always question authority

propat

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Re: FORM RC4288E Request for taxpayer relief (Assorted Topics)

Post by Guest on Fri 07 Mar 2014, 16:04

I admirer your enthusiasm , and certainly respect what you believe in, however my own personal belief is that there is absolutely no chance that anyone of us will benefit from sending in the RC4288, I say this for the following two reasons :
1. I have completed, and filled my 2013 tax return, which included my retro, and I have not incurred and penalties whatsoever.
Therefor the CRA will deny our request for tax payer relief from our T1198 with respect to any notional interest that they may impose while doing the calculations, for this reason.
In other words, you are asking them for relief from the T1198, which is a completed form provided to us, over and above your already filled penalty free taxes.  

2. While doing the calculations with our T1198, and by adding interest, and or penalties to our retro, and it turns out that you owe more taxes, they will not ask you to pay any extra tax, therefor it is extremely difficult to obtain any sort of tax payer relief, when you have not been given any sort of direct penalty.
And remember this, you have already filled your taxes penalty free.

However like you have stated it cost nothing to send it in, and it certainly won't hurt, as I am sure some will disagree with my point of view in this matter, which is
perfectly fine by me, this is just the way I see it, and I think I am entitle to that, so no disrespect to those who do not see it my way.

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Re: FORM RC4288E Request for taxpayer relief (Assorted Topics)

Post by LTD4me on Fri 07 Mar 2014, 16:01

Propat, you are correct the notional interest (deemed tax) is in fact interest at least to everyone but CRA, that's why I checked option b on section 2 of the RC4288 form just to cover my butt. I only went with the Penalty angle because I know for a fact (they have done it to another member here) that the CRA will only respond with "1999 Department of Finance Technical notes state's that the " notional amount of Interest... is not considered to be Interest for any purpose of the Act." basically they are saying although we calculate the notional amount of interest EXACTLY like anyone would calculate interest we deny calling it interest, hence we can not wave any interest since we did not calculate using interest. A bunch of legal mumbo jumbo just to cover their ass.

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Re: FORM RC4288E Request for taxpayer relief (Assorted Topics)

Post by Guest on Fri 07 Mar 2014, 15:40


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