Understanding when you may need the support of a fiscal arbitrator is essential if you have questions about protecting yourself and what a fiscal arbitrator does.
When retaining the services of professionals to help you with your tax planning or your response to a current tax issue, the person you select should have a strong track record of helping others with their complicated tax concerns. When you retain an accountant, a lawyer, or a fiscal arbitrator, sit down with the person first to discuss how they can help.
What is a Fiscal Arbitrator?
A fiscal arbitrator may be available to assist you with making amendments to your previous years' returns or to file your current returns. A fiscal arbitrator can step into a complicated situation to help you with managing your taxes, but it is always important to only retain the services of someone who is knowledgeable in the tax field. Someone who promotes themselves as a fiscal arbitrator but does not has the necessary training or experience could expose you to additional losses.
A fiscal arbitrator may be able to review your current tax situation and provide some guidance about ways to proceed, but make sure this professional has ample experience.
When Do You Need a Fiscal Arbitrator?
You need a fiscal arbitrator if you are interested in filing paperwork with the CRA or in need of advanced tax related support due to a CRA audit, unfiled taxes, back taxes, or more.
The insight from an experienced fiscal arbitrator could make it easier for you to understand the various challenges facing your case and give you further information about how to proceed most appropriately. As soon as you have a problem or are in need of assistance from someone who has experience in the field of taxes, you can benefit from speaking to a fiscal arbitrator.
Why Hire Us?
Our Canadian tax amnesty law firm has a great deal of experience in this field and have worked with many different clients from filing paperwork, correcting materials or avoiding penalties and criminal prosecution related to CRA tax audits. It is imperative to have someone with experience, professionalism and strong ethics assisting you in answering your questions as well as representing you in front of any necessary bodies when you are facing a tax situation.
The support of dedicated fiscal arbitrators can give you prompt answers to important questions surrounding your current tax situation but you should never proceed with the services provided by a fiscal arbitrator until you have fully vetted him or her. If you want a team of professionals who work daily in the field of tax planning and aiding with defense to tax prosecutions, contact our firm today.
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Is a fiscal arbitrator the same as a tax lawyer?
A fiscal arbitrator is not normally the same as a tax lawyer. Both have an in-depth understanding of tax law. But generally speaking, arbitrators specialize in giving you advice about how the tax authorities will react to your tax situation. People use them to decide when and how to correct any errors or oversights they have made when filing their returns. Tax lawyers tend to be hired if the tax authorities are already pursuing a person for funds.
What are the qualifications of a good fiscal arbitrator?
A good fiscal arbitrator will have plenty of experience. In many countries, they are not required to be certified or qualified. This can make it hard to find a good one. Using one that works with an established firm of chartered accountants or lawyers that are certified by the Law Society is an approach that works well for many people.
Should I choose a fiscal arbitrator, or a CPA?
If possible, hire a fiscal arbitrator who is attached to a firm of CPAs. That gives you the best of both worlds. You have access to the arbitrator who will have dealt with CRA related tax issues for many years. They can consult the CPA to gain a better understanding of what filing mistakes you may have made. Including, why you made them. This extra knowledge can help them to build up a good picture of what went wrong. Enabling them to convince the CRA that you were not deliberately avoiding your taxes.
"These articles provide information of a general nature only. It is only current at the posting date. It is not updated and it may no longer be current. It does not provide legal advice nor can it or should it be relied upon. All tax situations are specific to their facts and will differ from the situations in the articles. If you have specific legal questions you should consult a lawyer."