If you still have not submitted your tax return, please note that you have until midnight to do so, otherwise you risk paying a penalty. In some accounting firms, it’s a race against time.
Delays have accumulated, among other things, due to the labor shortage. Some are so overwhelmed that they won’t be able to submit all tax returns on time.
Hours are counted in accounting firms. 2023 tax returns must be submitted by midnight. Some firms overwhelmed by excess traffic will not be able to meet deadlines.
“We still heard from a few offices, it’s sure it’s boring,” says Dave Lafontaine, accounting technician at MD Accounting Services
An accountant who did not wish to speak in front of the camera told TVA Nouvelles that he still had around fifty files to process and that he would not be able to submit them all on time. In such circumstances, some accounting firms will pay the penalty fees and for others, the costs will have to be borne by the taxpayer.
“We still have a lot of requests. Unfortunately for us, it’s full. People are trying to find another place but it’s not easy for people who are looking,” continues Mr. Lafontaine.
“We regularly have calls, 3-4 per week, from people looking for accountants to do their tax reports,” notes chartered accountant Paul Cloutier.
Taxpayers neglected by certain firms
More and more large accounting firms are refusing to process personal tax returns. They now only deal with businesses.
“We feel that they are abandoning this clientele a little because it is not always easy to deal with and the big offices have quite cumbersome quality processes. Ultimately, fees are higher. This is probably why they tend to abandon the market,” observes Mr. Cloutier.
More clients are therefore turning to smaller accounting firms, which increases traffic.
“I have maybe twenty more. I had some late arrivals until the end of the week but I took them anyway. We’ve been working 6 days a week for 7 full weeks,” admits Marie-Josée Goulet, owner of Administration Solutions.
Fewer new customers
More and more accounting firms are deciding to no longer accept new private clients to avoid delays in processing files.
“We limited ourselves to our usual clients so as not to experience the situation we find in other accounting firms. It’s worrying to see where we’re going with this. It will be up to the government to find a solution. Perhaps to extend tax time,” wonders Dave Lafontaine.
“If they could extend it by 2-3 weeks, that would help us a lot,” muses Ms. Goulet.
For tax returns submitted after midnight, a penalty of 5% of the amount due will be added to the invoice, followed by one percent for each additional month of delay.
