Facing an audit by the Canada Revenue Agency (CRA) can be a daunting and stressful experience for any individual or business. At KR Law Firm, we provide comprehensive audit defense services that help minimize financial impact and protect your rights throughout the audit process. We are well-versed in audit procedures and tax law, ensuring that you receive skilled representation and advice at every step.

Initial Audit Review and Preparation

When an audit notification is received, our first step is to conduct a thorough review of your records and the areas likely to be scrutinized by the CRA auditors. This initial assessment helps us to understand the potential issues and prepare a strategy accordingly. We work closely with you to gather necessary documentation and information. Furthermore, we ensure that everything is complete and accurate before submission to the auditors.

Representation and Communication with Tax Authorities

As your representatives, KR Law Firm acts as the primary point of contact with the CRA. This role includes handling all communications, meetings, and negotiations on your behalf. By interfacing directly with the CRA, we ensure that the audit process is conducted fairly and that your rights are upheld. Our presence can also provide a buffer against the pressure that tax authorities might exert.

Strategic Defense and Advocacy

Throughout the audit process, our approach is proactive and defensive. We challenge any unreasonable or incorrect assertions made by the auditors, advocating firmly for your interests. Our deep knowledge of tax law allows us to contest discrepancies and argue effectively against proposed adjustments. We also advise on legal strategies to mitigate any potential penalties or additional tax liabilities.

Negotiation and Resolution

If issues are identified during the audit, we negotiate with the CRA to achieve the best possible outcome. This may include negotiating reductions in additional tax assessments, penalty relief or payment plans. Our goal is always to minimize the financial impact on you or your business while resolving the audit efficiently.

Following the conclusion of the audit, our services continue to support you in understanding the outcomes and implementing any required changes to ensure future compliance. We provide guidance on how to improve your accounting practices, enhance record-keeping, and address any weaknesses that were identified during the audit. This post-audit support is crucial for preventing future issues and strengthening your financial management practices.

Specialized Audit Services

KR Law Firm also offers specialized audit services for complex areas such as international tax, corporate reorganizations, and high-net-worth individuals. We handle audits involving offshore income, transfer pricing, and large corporate transactions, providing expert advice and defense tailored to these high-stakes situations.

We are committed to defending your interests vigorously during an audit. Our expertise in tax law, combined with a strategic approach to audit defense, ensures that you are well-equipped to handle the challenges of an audit with confidence. We aim to provide not just legal representation but a comprehensive support system that guides you through the audit process and beyond.