Introducing Audit Shield Fee Waiver Service
Over the last few years Canada Revenue Agency (CRA) has dramatically increased the audits/reviews they are undertaking. Banka & Company, CPA are introducing this new service called Audit Shield Fee Waiver Service because responding to CRA costs you money and sometimes the amount can be substantial. The annual fee you pay will take care of any professional accounting fees with respect to CRA audits or reviews at no extra cost.
Audit Shield Fee Wavier Service, supported by Accountancy Insurance Brokers Ltd., is basically a service offered to participating clients of Banka & Company, CPA. Fees are waived when responding to CRA or other revenue agencies. This may include;
- Investigations or reviews instigated by CRA or other revenue agencies
The cost to be a participant of this fee waiver service is based on the business or individual annual revenue. The fee is not based by Banka & Company, CPA rather by Audit Shield. Good news; the cost of the service is tax deductible for business clients.
Why consider Audit Shield Fee Waiver Service?
- Relieve stress: In the event you are notified of an audit, enquiry, investigation or review that is directly related to your filed return (personal or business), the associated professional fees are covered.
- Retroactive protection: Previously filed returns are automatically protected, despite who prepared them
- Choice: The service is optional.
Who would benefit from Audit Shield Fee Waiver Service?
CRA audits are on the rise and becoming more common. The number of CRA and other government revenue agencies targeted enquiries have grown significantly for individuals and businesses. Even if you filed correctly and compliant, your prepared filing can be selected for further assessment.
Audit Shield Fee Waiver Service will protect against unexpected and potentially exuberant professional fees incurred in responding to CRA’s enquiries.
There is no way to predict who might be chosen for an audit, investigation, review, or enquiry. The service provides an extra layer of comfort and peace of mind in the event you are contacted.
What does Audit Shield cover?
In the event you are contacted by CRA or other revenue agencies, the accounting professional fees would be covered. A few of the main services offered;
- Audits and reviews for Goods and Services Tax (GST), Provincial Sales Tax (PST)
- Business Audits
- Capital Gains Tax
- Corporate Tax
- Employment Compliance Audits
- Payroll Audits (T4)
- Personal Tax (post assessment T1)
At Banka & Company, CPA we strive to keep our valued clients current as changes occur with their accounting and tax needs. The Audit Shield coverage is optional. There is no obligation to purchase. To learn more and further details about Audit Shield Waiver Service to contact Banka & Company, CPA.