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My question is: Canadian-specific QUESTION: I have a very large tax debt. The interest and penaltys are killing me! I am making large payments, but am getting no where at all. I have the opportunity to pay 50% off with a regular loan. my Question is;Is there any way of reaching a settlement instead of going bankrupt and leaving them with nothing? --------------------------------------------------------------------------- david ingram replies:
The answer is almost 100% no!, if you have sufficient assets
to cover the debt.
Having just settled my own $4,853,000 Canadian Income Tax debt
with a receivership last August, I can tell you from personal experience that
the CCRA does not want to negotiate. In my own case, they would have
received more from any one of three different settlement offers made to them.
(see www.centa.com - click on hot
topics)
Call me at 604-657-8451 and I will give you a few minutes of
sympathy, empathy and possible solutions.
David Ingram
David Ingram - www.centa.com the CEN-TA Group US / Canada / Mexico Income Tax and Working Visa Matters 108-100 Park Royal South West Vancouver, BC, CANADA V7T 1A2
(604) 913-9133 Fax (604) 913-9123
Cell (604) 657-8451 10 AM to 10 PM 7 days a week |
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