I haven’t filed my taxes in 5 years. What are my next steps

[sparklepaws23]

I am an idiot. Let’s get that straight. But we’re here now.

I have not filed my taxes in about 5 years. I’m not even sure how long it’s been since I last filed. I have a steady income, and I have a mortgage. What are my next steps. I make about 60 000 a year. I have no dependents.
Can I just file my T4s and T5s, or is there a better path.

I would like to reiterate, I am an idiot.
Any advice is appreciated.

 

[suzannebea1975]

@sparklepaws23 I recommend using wealthsimple and your CRA my account. I’ve been there, it happens. They usually don’t care unless you owe them. It’s really simple and shouldn’t take you more than a couple hours max to do all of them once you can import from the CRA directly, assuming there’s nothing major or exceptional you need to worry about.

 

[dmm]

@suzannebea1975 If they haven’t filed in 5 years they probably don’t have access to myCRA. Will have to call and get a code sent in the mail.

 

[asmodea]

@dmm I'll just mention that if they are AB or BC residents they will be able to access their CRA account.

If not the best course of action may be to file their 2022 or 2023 return asap and when they get the Notice of Assessment they can apply for the access code. (If they phone they may be on hold for hours just to discover that the CRA doesn't know enough about them to confirm their identity so they can't send out a code.)

 

[medkarn]

@sparklepaws23 If it makes you feel better, assuming your employer is making the usual deductions, you have still been paying your taxes throughout this time. You just haven’t done the year end reconciliation to determine whether you’ve over or under paid. So get on it.

 

[marietherese]

@sparklepaws23 Just file them as usual. They will calculate if you owe anything and charge you interest if any. They just want money. Better file them now than later. Don’t fall for the taxman thing from radio.

 

[roguemouser]

@sparklepaws23 I was in the same boat a couple years ago.

Because I hadn't done my taxes in so long it was a hassle even getting into my CRA account.

Assuming you have all the T4 slips you need I would just pay someone to do your taxes and authorize them to have access to your CRA account.

I was 4 years behind and the person I had charged me $300. Seemed like quite the deal to me, plus I got like 14 grand back.

 

[obgf]

@roguemouser How long did it took to receive the refund?

 

[roguemouser]

@obgf From date of submission?

Like three weeks

 

[obgf]

@roguemouser Yes. Thanks for the info

 

[ducatimike]

@sparklepaws23 My cousin didn’t file hers for 7 years she just kept letting it grow and the anxiety was killing her she went and dealt with it finally and got like $13k back. Not saying that will happen but it might. If you owe you owe they will make a payment plan with you. You will feel better for getting it done either way. Also I’m not a tax expert by any means but if your employer deducted properly and at $60k I imagine you will be getting a return.

 

[lrs]

@sparklepaws23 Honestly mate, i had the same issue. I was worried about it. I couldnt access my CRA account (or reset the password cause it was asking for a line off my previous tax assesment)

I ponied up a whooping 340 bucks, went to one of the tax places (taxes done right in my case). And had them do the mail in one for 2016 (it was back to far) and then efile 2017-2022 for me.

I couldnt even remember when the last year i had filed was. They handled all of it. Took like... 20 mins? Of my time, then i had to drop in a day later, pay the money and sign off on the assesments, and i got 4k back. Plus some benifits i hadnt realized i was eligible for.

Didnt require anything from me. No cra account stuff, no t4s. Nothing.

That allowed me to reset mycra account. And efile through wealthsimple in about 10 minutes this year.

Best thing i ever did when i got behind was to let small tax buisness do it for me.

Just my two cents

 

[obgf]

@lrs I am in a similar boat, how long did it took you to receive your refunds for the previous years of taxes, if you dont mind me asking

 

[damacri]

@lrs Where did you go? H&R?

 

[lrs]

@damacri Tax done right

 

[huffyhog]

@sparklepaws23 Just file them.

CRA already has your tax documents. Log into the website and as long as you know how the internet works the rest should be pretty simple.

 

[bluemayskye]

@sparklepaws23 Lots of people end up in this situation. If you aren't sure that you have all of your tax documents, you can call CRA and they can send you all of your tax slips. I would recommend gathering any previous assessments/returns you have, since they may want info from them to verify your identity.

Unless you have an existing CRA MyAccount you won't be able to create one right now, since doing so requires that you've filed taxes for one of the last two years.

If your tax situation is relatively uncomplicated, you can just use tax software to file it yourself. Otherwise just find a tax person (accountant/bookkeeper in your area and get them to do it. You can still use NetFile (electronic filing) to file taxes back to 2017.

It's not a big deal. If you owe money, there will be some interest fees involved.

 

[savedbrian]

@sparklepaws23 Your next step is to file your taxes

 

[asmodea]

@sparklepaws23 It is possible that you weren't required to file a return, but you should file anyway because it is how you accumulate RRSP contribution room.

If you need tax slips from previous years that info is available via your CRA account. If you don't have access to it, see if you can use the CRA account link from your Service Canada account. If that isn't an option you could do your 2023 tax return and then use information from that return to apply for a security code for your CRA account. There you will be able to see the tax slips that the CRA has.

The CRA won't have tuition tax slips before 2019 so if you need those you'll have to get them from the school, probably via an online account.

At this time of year there may be a Volunteer Tax Preparation Clinic in your area. Some only do current year returns or returns for low income taxpayers but it won't hurt to check out that option first. See http://www.cra-arc.gc.ca/tx/ndvdls/vlntr/clncs/menu-eng.html

Otherwise you could try one of the free (donations accepted) tax preparation programs. WealthSimpleTax will allow you to complete returns online or the Genutax for Windows download will give you access to all of the years that you need. (But it doesn't do Quebec returns.)

Returns earlier than 2017 will have to be mailed to your tax service centre. See http://www.cra-arc.gc.ca/cntct/tso-bsf-eng.html The software will allow you to print a condensed "for the government" option which will save ink and paper but have all the information the CRA needs.

 

[kaye1979]

@sparklepaws23 Nothing will happen. I didn't file mine for 4 years, they'll just deduct whatever and it's done.