Tax Tip/New for the 2012 Tax Year-Mandatory Electronic Filing for Tax Preparers

(firmenpresse) - OTTAWA, ONTARIO -- (Marketwire) -- 12/14/12 -- Did you know?

If you are an individual, a corporation, or a partnership, and you accept payment to prepare more than 10 income tax returns per year, you are considered a tax preparer and you have to file those returns electronically.

T1 and T2 returns

Effective January 1, 2013, mandatory electronic filing applies to both T1 General (income tax and benefit returns) and T2 corporation income tax returns for 2012 and later tax years.

- To file T1 returns electronically, you must first register with the Canada Revenue Agency (CRA) through its Web site. If you haven't already done so, you can register for now. Tax preparers who have an number have to renew through the Web site each year.

- To file T2 corporation returns electronically, you must use approved commercial software and transmit returns using the CRA's service or the available service in .

- Electronic filing is easy and allows the CRA to process returns more quickly, which means a faster refund for your clients.

- There may be penalties for those who don't comply with mandatory electronic filing requirements.

More information

For more information on mandatory electronic filing, go to .

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Contacts:
Noel Carisse
Media Relations
Canada Revenue Agency
613-952-9184

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Bereitgestellt von Benutzer: MARKETWIRE
Datum: 14.12.2012 - 15:17 Uhr
Sprache: Deutsch
News-ID 212965
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