made a few grand, Canadian

C

comanche

Junior Member

Jul 24, 2009

114

8

• May 2, 2010

• #1

I made a few grand from CPA signups and I'm Canadian. I deposited the money in a Canadian bank. I didn't declare all of it on my tax return. Will they find out, am I screwed? What will happen?

 

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Paper-Boy

Elite Member

Jun 17, 2009

5,116

1,840

• May 2, 2010

• #2

you should ask an accountant

i really dont think they can track you down unless you gave your SIN.

i could be wrong though.

 

loclhero

Supreme Member

Jun 11, 2007

1,284

2,444

• May 2, 2010

• #3

Don't know about Canada but in US, if you are paid over $600 by anyone, they send what's called a "1099" to the person they paid and also notice to the IRS.

 

C

comanche

Junior Member

Jul 24, 2009

114

8

• May 2, 2010
• Thread Starter Thread Starter

• #4

Meh, pretty sure my bank account has my SIN, I didn't give it to them though. I'm hoping the worse that happens is that they send me another thing in the mail telling me about discrepancies, blah blah blah and there's no fine.

 

N

NoWhErE

BANNED

Feb 21, 2007

208

56

• May 2, 2010

• #5

If it can leave a paper trail, declare it.

If you're ever audited, they are going to want to know what every dollar you made came from.

I would know, I've been audited a few times.

 

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Paper-Boy

Elite Member

Jun 17, 2009

5,116

1,840

• May 2, 2010

• #6

comanche said:

Meh, pretty sure my bank account has my SIN, I didn't give it to them though. I'm hoping the worse that happens is that they send me another thing in the mail telling me about discrepancies, blah blah blah and there's no fine.

Click to expand...

i meant the CPA company.