income tax debt
Is CRA Debt Forgiveness Possible?
Regarding personal finances, few things can be as stressful as accumulating debt, especially when that debt involves an overwhelming entity like the Canada Revenue Agency (CRA). The prospect of owing money to the CRA can lead to mounting anxiety and sleepless nights for many Canadians. When faced with CRA debt, it’s crucial to understand the…
Read MoreFiling Your Income Tax Return After Bankruptcy
As part of the bankruptcy process, your Licensed Insolvency Trustee is required to file your income tax return for the year of bankruptcy and any returns that came due during the calendar year prior to bankruptcy. Any tax refunds for either of these periods will come directly to your bankruptcy estate for the benefit of the unsecured creditors.
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