Income tax season

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Income tax season

Post by CielOnTap » Mon Jan 11, 2010 5:23 pm

For some individuals, they may have started their returns last fall, but in Canada, this month is when paper tax packages go out to individuals still doing paper returns. I got my package today and was leafing through the general return guide to read about the new things--not able to get the transit credit for 2009 (did not buy passes), not able to use the one-time home renovation tax credit, did not work as a tradesperson and buy tools (good thing there is a token amount as a credit-metal tools and other gadgets cost dearly.

I have not used an electronic tax software program except in a tax class well over a decade ago. My brief exposure confirmed that it was harder to remember what areas got filled in once I transfered information slip data into the correct boxes. I do know that if a software user (usually someone comfy with the program or a tax preparer/accountant) enters one number in the wrong spot, unless s/he knows what value ought to appear in a credit or amount field, a mistake can be overlooked until the tax authority sends its report on the return. The error is most likely to happen with some credit, if the form is not properly read.

Paper return is easier for me but some of the forms have gotten longer.

So the wait for information slips begins for many people, some who expect that by Feb. 28, the paper copies are on their way by mail. Some organizations offer online printing options, of which post-secondary educational institutions are super-keen on. Students have log into their own accounts on the school system and print forms.
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