FORM RC4288E Request for taxpayer relief (Assorted Topics)

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

Post by Guest on Tue 18 Mar 2014, 19:04

Good point propat.

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

Post by bigrex on Tue 18 Mar 2014, 19:43

I agree propat. I think in our particular case, by sending the RC4288E, along with the 1198, it should be pretty apparent to CRA, that the relief we are seeking is from any deemed taxes arising from calculating past years. And whether or not we are given relief, will determine if the 1198 is even beneficial to the class members. After, even CRA staff have stated that due to deemed taxes (interest), anyone with taxes owed for beyond 5 years ago, are likely not going to benefit from the 1198. I also have to mention that, if you're not expecting a refund and you wait until after getting your notice of assessment before seeking relief, and it gets denied, you will then owe additional interest on whatever taxes you do owe, at a 5% daily compounded interest rate.
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Re: FORM RC4288E Request for taxpayer relief (Assorted Topics)

Post by Guest on Wed 19 Mar 2014, 09:20

I spoke with the tax accountant and was advised the following:

They were considering the RC4288 as a request to have a cancellation of penalty or interest which would mean that I would have to wait for an amount to actually be charged for this to take place.

The second option is file it as a request to have interest or penalties waived.  They are going to forward  the RC4288 today along with a letter stating that the tax return has been submitted and attached a copy and request that they waive any interest or penalties as per the completed form.

Thanks propat.

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

Post by Guest on Wed 19 Mar 2014, 10:24

ahhhaa ya gotta keep on these guys to make sure they are doing stuff correctly sparrow. this is not a common thing for anyone involved so when you hit the point you think you asked way too many questions. ASK SOME MORE!

make sure you ask for relief from the interest portion of the QRLSP calculations as applied to your 1198. do your best to spell it out for them.

always question authority

propat

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

Post by Guest on Wed 19 Mar 2014, 10:30

Thanks propat, I just forwarded that phrase to accountant. I sense they are getting tired of me....but we also paid $225 plus taxes each for our tax returns so it is only fair.

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

Post by Guest on Wed 19 Mar 2014, 10:31

I just heard that submitting that form 4288 will trigger an audit of your tax returns going back 7 years plus a request from CRA for you to provide an accounting of your assets. Also you will have to provide evidence that you are in a position that you can't pay or near insolvent. If you have an income with assets this won't be approved. Just what I was told

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

Post by Guest on Wed 19 Mar 2014, 10:33

Hide the silver Navrat! lol....thanks Nav.


Last edited by Sparrow on Wed 19 Mar 2014, 10:33; edited 1 time in total

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

Post by Guest on Wed 19 Mar 2014, 10:33

big rex I agree but just so everyone knows if you pay what your assessment is by the deadline ore pay what you have figured out you owe and pay that at the deadline (witch is what I do) and you end up owing more the have always for me sent me the assessment with an explanation and asked me to pay the difference within 2 week ore they would charge interest.

so I guess if you keep to the deadlines you are OK.

propat

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

Post by Guest on Wed 19 Mar 2014, 10:37

Navrat wrote:I just heard that submitting that form 4288 will trigger an audit of your tax returns going back 7 years plus a request from CRA for you to provide an accounting of your assets. Also you will have to provide evidence that you are in a position that you can't pay or near insolvent. If you have an income with assets this won't be approved. Just what I was told
If this is what CRA views then I don't think many will be approved.

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

Post by Guest on Wed 19 Mar 2014, 10:41

nav buds that is correct if you are seeking the relief do to financial hardships.

if you seek for medical reasons that is not nessesary but doctors reports are.

in our case we are trying to connect the CRA to the GOC and are asking on the grounds of a mistake ore delay on their part.

so audits and assessed assets are not required.

propat

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

Post by Guest on Wed 19 Mar 2014, 10:45

FOR US NO AUDIT ORE ASSESMENT OF ASSETS WILL BE REQUIRED!

PROPAT

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

Post by Guest on Wed 19 Mar 2014, 10:46

I say we need a support group for this RC4288E and we meet once a week at the church hall. Very Happy 

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

Post by Guest on Wed 19 Mar 2014, 10:52

I just talked to my accountant who called wanting me to drop off his fee. I asked and he said those things to me. He said in my situation he'd bet his career I wouldn't get it. I am just relaying what I was told, I hope it's successful for all others

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

Post by Guest on Wed 19 Mar 2014, 11:04

Would I be incorrect in thinking if one person gets approved RC4288 for the interest portion of the QRLSP calculations as applied to your 1198 then it would or should be across the board for all class action members.

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

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

I just think they will look at everyone's different situation. If someone has a lot of assets or high income , forget about it, nt going to happen because anyone who had a high tax bill might be able to use that form. I'd be very interested in knowing how many of those get approved every year.

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