COVID-19 UPDATE AS OF APRIL 23, 2021
 

COVID-19 UPDATE AS OF APRIL 23, 2021

Hello everyone, dear friends, colleagues, and clients.

This tax season is one like we’ve never experienced before. For a year now, we have been wading in this pandemic that is exhausting us all.
The current situation is that 80% of accounting firms will not be able to meet their obligations by April 30:

The reasons are many, including:

  • Taxpayers who are reluctant to leave their homes, which delays the delivery of documents;
  • Tax returns are a little more complex this year with telework credit programs and so on;
  • The people in the firms who have not had a break since the tax season that went on until September are exhausted and so on;

Following representations to the Quebec Minister of Finance, the latter announced last week that he would grant an additional one month, until May 31, to file tax returns without penalties or interest. The US government (IRS) also announced a one-month deadline (May 17) to give professionals and taxpayers a break.

At the time of writing, the federal government has yet to announce the extension of the deadline that could give all of us a bit of oxygen. From what I understand, Mr. Trudeau does not want to give the impression to the other provinces that he is following Mr. Legault.

Despite our colossal and continual efforts to get everything done on time, the current constraints mean that files that will arrive at the office on or after April 26th may not be completed on time. There are no issues for the self-employed (who have until June 15 to produce) or for taxpayers who have refunds but this could have an impact on workers who have balances to pay.

In this context, for those who sent their documents after April 25th and expect to pay, it would be recommended to pay an instalment on April 30 to the federal government because we will not be able to assume responsibility for the interest or penalties if applicable. It is always possible to ask for relief but the result is not guaranteed.

Thank you all for your understanding in the current context,
Eric and the PHIQ team.

Eric and your entire team of professionals at Porter Hétu International (QC) Inc.

FOR MORE INFORMATIONS:

MONTREAL OFFICE: accueil@phiq.ca 514-744-1500

ST-HUBERT OFFICE: receptionniste@phiq.ca 450-676-1832

PORTER HÉTU INTERNATIONAL (QC) INC.
790 Blvd Marcel-Laurin, suite 100, Ville St-Laurent, QC H4M 2M6
4755 montée St-Hubert, Suite 102, St-Hubert, QC J3Y 1V4