Well, you think that you have trouble at tax time. Imagine getting hit with this double-whammy.
An audit and a bill for half a million dollars. That's what happened to B.C. resident Dennis Collins. This all came about as the result of an audit by the Canada Revenue Agency - supposedly done without his participation. Collins says that they seized all the money that comes into his company with no deductions or expenses allowed.
Collins says that he had no chance to prove that he was clean because they never showed up to do an audit.
Collins is now appealing. If he loses he says he will lose everything. If he wins, he expects the fight alone will cost thousands.
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An audit and a bill for half a million dollars. That's what happened to B.C. resident Dennis Collins. This all came about as the result of an audit by the Canada Revenue Agency - supposedly done without his participation. Collins says that they seized all the money that comes into his company with no deductions or expenses allowed.
Collins says that he had no chance to prove that he was clean because they never showed up to do an audit.
Collins is now appealing. If he loses he says he will lose everything. If he wins, he expects the fight alone will cost thousands.
Share your tax horror stories.
More...