If I am late-filing a tax return due to an external factor and I did file a taxpayer relief form to explain the situation, should I pay my tax balances owing now or wait till the CRA to process my form?
Well, you do have a choice to defer you payment. However, this will result in interest and penalties based on the amount you owe. It is recommended that you make the full payment as soon as possible. In the case that your taxpayer relief form is being processed and the CRA does accept your explanation, you would simply receive a refund of the penalties, interest, and over payment of taxes.
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