The end of February is upon us and with it marks the beginning of the 2013 tax compliance season. Canadians (and Americans living in Canada) need to take note of the deadlines presented in the tables provided as significant penalties and interest may lurk on the far side of those deadlines.
Both the Canada Revenue Agency (“CRA”) and the Internal Revenue Service (“IRS”) can and will hit delinquent taxpayers with failure-to-file and late filing penalties. As an extra incentive… the penalties and interest levied pursuant to the Income Tax Act (the “Act”) and the Internal Revenue Code (the “IRC” or “Code”) are generally not deductible for tax purposes. Readers should be cautioned that the deadlines and information presented in the tables provided below will not apply to taxpayers (or partnerships) in all circumstances. Readers are encouraged to obtain tax advice specific to their facts and circumstances.
To view the complete 2013 Tax Calendar for Canada, please click here.
To view the complete 2013 Tax Calendar for the US, please click here.