2015 CRA tax returns deadline

Tax Return deadline for the 2015 tax return

Call us at 514-954-9031
Call us at 514-954-9031

Generally, your return for 2015 has to be filed on or before April 30, 2016.  For the 2015 taxation year April 30th due date falls on a Saturday, and CRA will consider your return to be filed on time if we receive it or it is postmarked on the next business day or May 2, 2016.

Self-employed persons

If you or your spouse or common-law partner carried on a business in 2015 has to be filed on or before June 15, 2016. However, if you have a balance owing for 2015, you have to pay it on or before April 30, 2016.

Filing Late Tax Returns & Penalties

Interest

If you have a balance owing for the year, you are charged compound daily interest starting May 1 on any unpaid amounts owing. This includes any balance owing if your return is reassessed. In addition, you will be charged interest on the penalties starting the day after your return is due. The rate of interest you are charged can change every three months. If you have amounts owing from previous years, they will continue to charge compound daily interest on those amounts. Payments you make are first applied to amounts owing from previous years.

Late-filing penalty

If you owe tax and do not file your return on time, you will be charged a late-filing penalty. The penalty is 5% of your current tax year balance owing, plus 1% of your balance owing for each full month that your return is late, to a maximum of 12 months.
If you were charged a late-filing penalty on your return for any of the previous three years your late-filing penalty for this year may be 10% of your current tax year balance

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2016 IRS Tax Returns

2016 IRS Tax Returns

Call us 1-877-542-2130
Call us 1-877-542-2130

Need more time to prepare your US federal tax return?

April 18 is the deadline for most to pay taxes owed and avoid penalty and interest charges.

If you cannot file by April 18th 2016, apply for an extension of time to file. Please be aware that an extension of time to file your return does not grant you any extension of time to pay your taxes.

Fore more information see the attached form: f4868

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