Realized a Mistake on Your Tax Return? Here’s What to Do

If you’re looking back at your tax returns and something seems off, and then it dawns on you that you’ve made a mistake on your taxes after you’ve filed them, don’t worry. Even though you might start to panic, there are steps you can take to fix it. 

Fixing Mistakes with ReFILE 

The CRA has a service called ReFILE that lets you send in your tax returns again online with the corrections made. This option is available for mistakes made in any of the last four tax seasons. But, if you’re looking to adjust your return because you think you’re due a refund, you can make changes to returns from up to 10 tax seasons ago. You can either log into your CRA My Account to do this yourself or get help from a Tax Expert at Orientum Group. Remember, ReFILE is only for returns that the CRA hasn’t looked at yet. 

If you’d rather send your corrected return by mail, keep in mind it’ll take at least 8 weeks to hear back. The CRA will send you a Notice of Reassessment, which will tell you what your new tax return amounts are. They might have more questions for you, or they might not agree with your changes, but they’ll explain everything in a letter. 

The Voluntary Disclosure Program 

There’s also something called the Voluntary Disclosure Program. If you find a mistake that means you owe more taxes, and you tell the CRA before they spot it, they’ll look at your situation individually. This way, they might be able to help you avoid any penalties for a tax mistake. 

If you’re unsure about how to fix your tax return or if you have other tax questions, Orientum Group is ready to help. You can set up an appointment anytime.