Tag: CRA

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CREDIT CHECK FAILED REASONS: 5 STUPID REASONS STOPPING YOU FROM GETTING THE LOAN YOU COULD ACTUALLY REPAY

Credit check failed reasons: Introduction

Below is our list of 5 stupid credit check failed reasons stopping you from getting that loan you can repay. You likely recognize that not paying your credit card on schedule or missing out on a settlement could harm your credit score. That is probably the most common credit check fail. So, those reasons are not on our list of credit check failed reasons. There are much less clear methods to sink your rating. You could be doing some without understanding the influence you’re triggering.

Below are 5 unexpected methods you could be damaging your credit score:

  1. Credit check failed reasons: Decreasing your credit line

You might assume that you’re increasing your credit score by reducing your credit line on your credit card. However that could be having the other impact. Credit score use is the second-most vital credit score aspect, after history of credit card repayments.

Your credit use is your compared with just how much you’re using. When you lower that proportion, that is a good thing. Many professionals suggest maintaining it around 30 to 35 percent.

By reducing your authorized credit amount, you’re really increasing your credit use proportion.

Toronto financial advisor Seun Adeyemi says that most people are not aware that cancelled credit lines, even after making full repayment, can hurt your credit score.

Here is an example. Say you have 2 credit cards:

  1. a Visa with a $1,500 balance as well as a $4,000 credit limit;
  2. as well as a MasterCard with $1,500 outstanding and a $6,000 credit authorization.

Your credit usage is just 30 percent since you’re making use of $3,000 of your readily available $10,000.

If you reduced your credit limit to $4,000 on that MasterCard, you’re currently utilizing $3,000 of a readily available $8,000. This presses your credit usage to over 35%.

credit check failed reasons 2
credit check failed reasons

  1. Credit check failed reasons: Leasing an automobile with a debit card as opposed to a credit card

When you’re leasing, it’s a great deal less complicated when you make use of a credit card.

Utilizing your debit card will lead to a pull on your credit report. While it could be a soft pull– implying it does not harm your debt– there’s a chance it might be a hard check. A hard check does affect your credit rating.

The procedure changes slightly in the auto rental business. Making use of a debit card will certainly result in a soft credit inquiry. However, when using a debit card to rent a car, there will probably be a hard pull on your credit rating at the first time (when you check-in and get the car).

There would not be a credit check if you use of a credit card for renting a car.

An included incentive of renting your car with a credit card as opposed to debit: Many credit cards offer vehicle rental insurance coverage. This saves you even thinking about taking the car rental company’s costly insurance package.

  1. Credit check failed reasons: Not paying your library fines (yes, libraries still exist!)

Not paying your penalties might lead the library to withdraw your privileges, as well sending your past due account to a collection company. When a collection agency obtains your overdue account, if you don’t pay, it will be noted on your credit report that you are in collection and have not paid. This will adversely influence your credit score.

credit check failed reasons
credit check failed reasons

Normally, you need to owe around $40 or more before the account being sent to collections. To prevent all this, check your public library’s plan on fines, as well as, obviously, paying your late charges in a prompt fashion.

  1. Credit check failed reasons: Not paying your parking tickets

When it concerns vehicle parking tickets, you have 2 choices:

  1. you could pay them; or
  2. go to Court and fight them.

Just what you do not want to do is disregard your parking tickets.

If you do choose to or forget to pay them, after a specific duration, your account will certainly go to collections. The policies on vehicle parking penalties differ by city. For instance, in Toronto, the use of debt collectors starts when your vehicle remains in plate rejection. This is when you could not restore your plate sticker label or acquire brand-new plates– for 2 years. Also, your tickets outstanding balance is more than $300.

  1. Credit check failed reasons: Owing the taxman

If you have an outstanding amount payable on your income tax return, it’s important to settle that financial obligation to the Canada Revenue Agency (CRA). Overdue tax obligations could cost you in penalties and interest. It will also make it more challenging to get loans.

When submitting your tax return, any amount owing is due on April 30th, or the next Monday if April 30 falls on a weekend.

Credit check failed reasons: Not paying CRA is a self-inflicted indirect hit

Not paying your taxes does not directly hit your credit rating. However, two standard questions on any loan application are:

  1. what is the last year you filed your income tax return for; and
  2. how much do you owe to CRA for personal tax.

Not being current in your filing, or having an amount owing to CRA, will limit your chances to get that loan you are applying for.

When applying for a mortgage or home equity line of credit, most lenders ask for a duplicate of your Notice of Assessment from the previous 2 years. If the potential lender sees that you owe the CRA a great deal of money, they might offer you a higher rate of interest than the posted rate or worse, refuse your application.

Credit check failed reasons: What to do if you can’t repay your debts – even if you still have an OK credit score

Maintaining a good credit score is more than just paying your credit card on schedule, yet it does not need to be made complex. You should always aim to pay any type of arrears in a prompt style, as well as understand how every activity or transaction can affect your credit score.

If you are having problems repaying your debt, don’t be afraid to seek professional help. Don’t be enticed by the commercials for debt settlement. A recent study by the federal government shows that people who first go to a debt settlement company, end up paying more to settle their debts than if they just went to see a . That same study shows that ultimately, the debt settlement program alone does not work and the person ends up filing a consumer proposal with a licensed insolvency trustee.

credit check failed reasons
credit check failed reasons

The Ira Smith Team has helped many people in debt get back on track and living debt free lives Starting Over, Starting Now. Take the first step and give us a call today.

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Brandon Blog Post

INCOME TAX SCAMS IN CANADA: HOW NOT TO BE DECEIVED

tax scams in canadaTax scams in Canada: Introduction

We’re approaching tax season and income tax scams in Canada are rampant. It’s more than just the Canada Revenue Agency (CRA) that wants your money. Income tax scams in Canada are big business and it seems that every day there’s a new scam designed to fool you into giving up your information and ultimately your money. Don’t let your guard down because these fraudsters are good.

We regularly warn our readers about scams in blogs such as:

  1. BEWARE OF PHISHING AND SPEAR PHISHING SCAMS
  2. VAUGHAN DEBT COUNSELLING ADVISES BEWARE OF TAX SEASON SCAMS
  3. CANADA REVENUE AGENCY SCAMS: IF YOU READ ONE ARTICLE, READ THIS ONE
  4. #VIDEO-CRA PHONE SCAM: IF YOU WATCH ONLY 1 VIDEO, WATCH THIS ONE#
  5. ARE YOU UP ON THE LATEST PHISHING SCAMS? YOU SHOULD BE!
  6. #VIDEO-TOP CONSUMER SCAMS TO WATCH FOR IN 2017#

Tax scams in Canada: How to recognize a rip-off

If you receive any sort of communication from the CRA – telephone, mail, email, text message – requesting personal information such as your social insurance number, credit card information, bank account number or passport number, it’s a scam. The CRA will never:

  • ask for personal information of any kind by email or text message
  • request payments by prepaid credit cards
  • give taxpayer information to another person, unless you give formal authorization
  • leave personal information on an answering machine
  • send email with a link and ask you to divulge personal or financial information (There is one exception: If you call the CRA to ask for a form or a link for specific information, a CRA agent will send an email containing links)

Tax scams in Canada: How to protect yourself

  • Never give out personal information via the email, text, voice mail or Internet
  • Guard your passwords, IDs, PINs and access codes
  • Do your due diligence when selecting a tax preparer. Preferably get a referral from a trusted source
  • Shred unwanted documents

Tax scams in Canada: What to do if you’re a victim

Many people don’t report these types of crimes because they’re ashamed. Don’t be! If you suspect you may be the victim of fraud or tricked into giving personal or financial information, contact your local police service.

Tax scams in Canada: Are you experiencing financial hardship?

People land in financial hardship for many reasons. If you’re experiencing financial hardship and are looking for a way out, contact Ira Smith Trustee & Receiver Inc. With immediate action and the right plan for moving forward we can set you on a path to debt free living Starting Over, Starting Now. All it takes is one phone call.

credit karma canada

 

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Brandon Blog Post

#VIDEO-TOP CONSUMER SCAMS TO WATCH FOR IN 2017#

This video is courtesy of ABC News. References to IRS can be replaced with CRA. The top consumer scams to watch for in 2017 will know no geographical boundaries.

Top Consumer Scams To Watch For In 2017: Introduction

Consumer experts are already predicting the rip-offs and top consumer scams to watch for in 2017. Our video and blog shows you what new scams to watch out for this year or new twists put on some old scams tricking you out of your money.

Top Consumer Scams To Watch For In 2017: The IRS/CRA Scam

Polk county resident Sherry Gordy fell for the number one rip off in the United States. They said they were with the IRS and that I owed $2,773.00 dollars in back taxes. So far the IRS scheme cost Sherry and thousands of other Americans more than $30 million dollars.

Most now know that the IRS and Canada Revenue Agency (CRA) will issue a statement showing the amount of tax owing, by year, but will never first contact a taxpayer by calling on the telephone. So this year, look for phony letters notifying people they owe taxes. I just can’t believe people still fall for this scam. It may be the biggest scams to watch for in 2017.

Top Consumer Scams To Watch For In 2017: The Computer Virus and Jury Duty Scams

Consumer experts predict that bogus notices involving a virus on your computer and missing jury duty will make the rounds this year.

The computer virus scam is not a new one, but people fall for it. This is how it works. You receive a phone call from someone pretending to be from your internet service provider, advising you that they have noticed irregular traffic, irregular internet connectivity and a potential virus from your computer. They ask you to go to your computer, put in certain keystrokes, and “test” your internet service by providing key details of your computer and its passwords. People who fall for this don’t realize that the scammers are asking you for your IP address, and then passwords, so that they can after the call hack your system and use your passwords for their criminal activities such as hacking bank accounts or stealing your identity.

The jury duty notice trick, sent mainly to business owners, will make the rounds in 2017. This is how this scam works. The business owner receives an official looking notice using a lot of legal terms. The warrant advises that you failed to show up for the jury duty selection. The scammers hope that the business owner thinks that they must have misplaced the original jury duty notice, which of course, was never sent.

The warrant goes on to say that the person can avoid further fines and prosecution, by paying a certain amount of money now. People are paying and of course it’s a scam.

Top Consumer Scams To Watch For In 2017: What Do Consumer Protection Experts Advise?

Consumer protection experts recommend that anytime you’re hit with an unsolicited call, email or letter, look up the real number for the agency they claim to be with. Then call the real agency to find if what you received was a real communication or a bogus one.

Consumer protection experts also recommend that if you are online checking your bank accounts, or other sites that contain your personal information or money, make sure you have plugged in the right web address. The bad guys have purchased domain names with common typos and have made them look like the real websites they are impersonating. They have done so with the hopes that you’ll accidentally put in your login information and they’ll gain access to your account.

Also be on the lookout for smarter phishing scams. The bogus emails that look like</font> they’re coming from your bank credit card or utility company. Instead of clicking on the link, open a new browser and go directly to the real website.

Top Consumer Scams To Watch For In 2017: Been Scammed and Now Can’t Pay Your Bills?

There are many scammers who think nothing of bilking innocent people out of their money. In extreme cases, you might be left without enough money to pay your bills. Your debts are now too much for you to handle, and you will never be able to recoup the money you have lost.

If you have too much debt, for whatever reason, contact the Ira Smith Team. We will give you a free consultation, where we will discuss your problems, treat you with the respect that you deserve, and create a plan for you, often to avoid bankruptcy, and regain a stress free life, Starting Over, Staring Now.

scams concord

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Brandon Blog Post

DEBT TO CRA : ARE YOU IN THE 10%?

9 out of 10

9 out of 10 Canadians do not have a debt to CRA because they pay their taxes on time. Beginning in February every year, people who not only have too much debt on their credit cards right after the Holidays, but they also owe income taxes, consult us.

We have written on the topic before, including:

  1. CRA: TAX RETURN FILED BUT NO MONEY TO PAY?
  2. TAX problems with the CRA? CONTACT A TRUSTEE!
  3. CANADA REVENUE AGENCY SOCIAL MEDIA
  4. VAUGHAN BANKRUPTCY TRUSTEE WARNS OF DANGERS IN TAKING FREE TAX ADVICE
  5. THE TAX LAWYER; EVEN A HIGH PROFILE TAX FIGHTING LAWYER HAS TO PAY HIS INCOME TAX

Their cute animated video

Do you have a debt to tax authorities? Do you owe taxes or other government amounts like overdue student loans, or EI and CPP overpayments? If so, the Canada Revenue Agency says it wants to help you get back on track. They tell you that paying what you owe to them is easier than ever with a variety of online payment alternatives. And if you can’t offer the full amount right off, they tell you that they can work with you to set up a payment plan that would allow you to make payments over a term.

Michael’s nice story

The tax collectors then tell you a nice story. Take Michael for instance. He has an indebtedness with and he can’t pay the full amount right now. On their website, he was able to set up a monthly pay plan to pay his debt to them. Michael was also happy to pay interest on his debt to CRA until it’s paid off.

This is such a nice sounding story. However, based on the people who consult with us over their debt to CRA, it ignores the fact that people with too much debt do not have the money to pay off their debt to CRA and their other debts. The people who consult with us want to pay off their debt to CRA, but can’t. Life has gotten in their way!

The real story

If you owe money to the CRA and you’ve been contacted by the CRA about it, collection acts could be underway. Shunning your indebtedness will not make it easier for you. By working together with the CRA as early as possible, you can hopefully avoid legal and monetary penalties.

However, there are issues in dealing with CRA directly and pitfalls to avoid. Here is our top list of things to be aware of:

  1. The CRA collector does not have the authority to agree to accept a lesser amount than what you owe. The collector can only agree to you’re paying off 100% of the tax, penalty and interest you owe.
  2. The CRA collector will be looking for you to pay off the full amount in a relatively short period of time; say, 6 months.
  3. The CRA collector has a lot of information t his or her fingertips. After all, you have provided CRA with very personal information for many years!
  4. The CRA collector will try to get updated financial information from you such as the identification of your bank accounts, current employment, do you own or rent, if you own, what mortgages are against your property. The reason for this is so that if you fail to reach a payment plan, or default on your payment plan, then they will try to garnish and seize your cash, wages and other assets. It is a lot easier for them to do so when you have already told them where to look!

What should you do if you have too much debt?

So if you can’t get some peace of mind by joining the 9 out of 10 Canadians who sleep easy knowing that their taxes are in order and their tax indebtedness has been paid – contact us. The Ira Smith Team has helped many individuals and corporations avoid bankruptcy and settle their debt to CRA for less than the full amount owing. Here is a little known secret – the only way CRA will accept less than 100% is if you are working with a professional licensed insolvency trustee in a debt restructuring proposal.

Starting Over, Starting Now, we can help you get squared away with CRA and return you to living a productive stress-free life. Call us today for our free consultation.

debt to cra

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Brandon Blog Post

#VIDEO – TAX FRAUD PHONE CALLS ARE YOUR WORST ENEMY. 1 SECRET TECHNIQUE TO ALWAYS DEFEAT THEM#

Our previous blogs on tax fraud phone calls and similar scams

We have before written about tax fraud phone calls. These are scams perpetrated by criminals purporting to represent Canada Revenue Agency (CRA). Our previous blogs are:

People are falling for the tax fraud phone calls all the time

These scams have also been well reported in the press. CRA estimates that losses from these scams are in the millions of dollars. CRA and the Canadian police forces estimate that the scam has worked on 9 in 10 Canadians.

How many types of scams are there?

CRA advises that there are many known scams, pitches and fraud types with new ones invented daily. The more common ones are:

  • Telemarketing/tax fraud phone calls scams
  • Online scams
  • Email scams
  • Identity theft
  • Business scams
  • Mail scams

How do these scams work?

They all involve posing as a CRA. CRA advises you should be wary of phishing scams asking for personal private information. The CRA would never ask for this type of information.

Some of these scams ask for this personal information. Others refer you to a website resembling the CRA’s. At the website, you are prompted to confirm your identity by entering personal information. You should not click on links included in these emails. Email scams may also contain embedded malicious software that can harm your computer. The software can also send them your sensitive personal information which you enter online.

The latest, and most aggressive scam works something like this. Often, people are getting calls to their home by someone claiming to be a CRA agent. They notify the resident of some bogus tax arrears amount. They then say they are about to be taken to court or police are about to come to their door to arrest them.

A fake tax agent has even shown up at homes demanding payment as part of the scam. It used to be the scam was only done over the phone or computer. Now the thieves are getting more brazen. They are enlisting the services of confederates to show up at your home!

More information about the types of tax scams can be found at some of the following sources:

  • Protect yourself against tax fraud phone calls – Agence du revenu du Canada www.cra-arc.gc.ca › Home › Security Apr 5, 2016 – Informing yourself is the best protection against fraud. … If you receive a call saying you owe money to the CRA, you can call us or check My … Is the requester asking for information I would not provide in my tax return? Is the …
  • Beware of new tax fraud phone calls scams – Agence du revenu du Canada www.cra-arc.gc.ca › Home › Newsroom › Alert Jun 10, 2015 – Victims receive a phone call from a person claiming to work for the … If you get such a call, hang up and report it to the Canadian Anti-Fraud Centre. … and businesses have in the CRA is a cornerstone of Canada’s tax system.
  • Tax season brings more tax fraud phone calls on CRA tax scam | CTV Ottawa News ottawa.ctvnews.ca/tax-season-brings-more-calls-on-cra-tax-scam- 2804420 Mar 4, 2016 – It was an automated call, accusing him of tax fraud and requesting him to phone a 6-1-3 number back immediately or “face the consequences.”.
  • Canada Revenue Agency warning of aggressive tax scam, millions … www.citynews.ca/…/canada-revenue-agency-warning-of-aggressive- tax-s…Feb 4, 2016 – “A lot of it has to do with tax fraud phone calls and demanding immediate payment, threatening arrest, threatening jail, using really aggressive language …
  • Tax Fraud Phone Calls and Tax Scams | TurboTax Canada https://turbotax.intuit.ca/tax-resources/tax…/tax-fraud-and-tax-scams.jsp Taxpayers who knowingly engage in tax fraud and tax scams face fines, penalties … Unsolic Phone fraud – Wikipedia, the free encyclopedia https://en.wikipedia.org/wiki/Phone_fraud Communications fraud is the use of telecommunications products or services without intention … A variant is a call forwarding scam, where a fraudster tricks a subscriber into …. monopoly and/or excessive taxation of inbound overseas calls.

Here is the 1 simple secret technique to protect yourself from tax fraud phone calls and similar scams

There is 1 simple secret technique though that most people do not know about. Knowing this will allow you to not fall for the tax fraud phone calls and other tax scams. When you are contacted, do not give out any personal information. Then, either go to your CRA My Account login online or call CRA to check the status of your tax account. You will know that you are dealing with the real CRA and can find out the true status of your tax account. Once you learn that there are no problems with your tax account, then you will not fall prey to the scammers.

Then contact the Canadian anti-fraud centre or phone the CRA fraud phone number. Report the contact the thieves made with you.

What can you do if you have too much debt and now you have been scammed out of the money you were going to use to pay those debts?

Are you insolvent and looking for solutions? The Ira Smith Team is here to offer alternatives to bankruptcy and bankruptcy. We offer the help in Vaughan and throughout the GTA.

Are you an individual or company who feels your situation is hopeless? Ira Smith Trustee & Receiver Inc. can prepare and put in place the plan MADE JUST FOR YOU. The plan will free you from the burden of your financial challenges. With our help, you will go on to live a productive, stress-free, financially sound life.

Our motto is Starting Over, Starting Now! Ira Smith Trustee & Receiver Inc. can help you overcome your financial difficulties. Contact us today.

THIS VLOG WAS INSPIRED IN PART BY OUR eBOOK – PERSONAL BANKRUPTCY CANADA: Not because you are a dummy, because you need to get your life back on track

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Brandon Blog Post

LOAN SCAMS CANADA VIDEO

Haven’t you already written on the loan scams Canada topic?

Yes, we have previously advised you of various loan scams Canada in our previous blogs and vlogs:

  1. CREDIT REPAIR TORONTO: HOW TO USE IT TO NOT RUIN YOUR LIFE
  2. ARE YOU UP ON THE LATEST PHISHING SCAMS? YOU SHOULD BE!
  3. #VIDEO: CRA PHONE SCAM: IF YOU WATCH ONLY 1 VIDEO WATCH THIS ONE! #
  4. CANADA REVENUE AGENCY SCAMS: IF YOU READ ONE ARTICLE, READ THIS ONE
  5. DISASTER RELIEF SCAMS BY THE NUMBERS
  6. VAUGHAN DEBT COUNSELLING ADVISES BEWARE OF TAX SEASON SCAMS
  7. SENIOR FINANCIAL ABUSE; SENIOR CITIZEN MONEY SCAMS
  8. BEWARE OF PHISHING AND SPEAR PHISHING SCAMS

“Will these loan scams Canada continue?

For sure loan scams will continue. One main reason is that Canadians on a per capita basis are in debt at the highest level in all of Canadian history, and one of the highest in the entire world! This is a very lucrative and enticing market for the scammers to perpetrate loan scams Canada!

How can I protect myself against loan scams Canada?

There are three general themes in common with all of the loan scams. If you don’t fall for them, that is the best protection. Here is our list of the three common loan scam Canada themes and how to protect yourself:

  1. Never give money or your credit card information over the telephone or in person to someone you don’t know – even if they sound like they’re from an established organization. Request additional information to be sent to you, review it with friends or family, or simply hang up if the whole thing sounds fishy!
  1. It’s important to know that no bank, store or Canada Revenue Agency will ever ask you for your password via email or telephone, so never respond to these requests. If you receive an email that has a sense of urgency requesting personal information, first contact the purported sender to see if the email is legitimate.
  1. Reputable lenders for personal loans will never ask you to pay an up-front insurance or application fee. Also, reputable lenders will never give you a guarantee that you will receive the loan approval before you provide your information. If the person you are dealing with asks for the up-front fee, or guarantees that no one is ever declined, stop dealing with them.

What to do if you have too much debt and not enough cash

Rather than resorting to high interest rate payday loans or to lenders who charge up-front fees in return for all sorts of promises, talk to a licensed insolvency trustee. Contact us now to obtain a solution, before bankruptcy is your only alternative.

We help individuals and companies throughout the Greater Toronto Area (GTA) facing financial crisis to avoid bankruptcy or bankruptcy, if the problems have been left too long without any corrections that need a plan for Starting Over, Starting Now. The Ira Smith Team brings a cumulative 50+ years of experience dealing with diverse issues and complex files, and we deliver the highest quality of professional service. Don’t worry about debt; instead take immediate action.

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Brandon Blog Post

ARE YOU UP ON THE LATEST PHISHING SCAMS? YOU SHOULD BE!

Beware of both old and new phishing scams

We previously published three blogs and one vlog warning about various phishing scams:

The vlog on the CRA phone scam was published in December 2015. Since then, I know several people who received the CRA phone scam call and one person who actually fell for it and was defrauded.

On March 1, 2016, the Bank of Canada issued a press release on the Bank of Canada email scam, one of the newest phishing scams around. Here is a copy of the Bank of Canada press release:

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Since the CRA phone scam remains rampant and now there is a Bank of Canada email scam. we wish to again present to you, as a caution to remain vigilant, our video on the CRA phone scam and to protect yourself against the scammers.

What to do if you are a victim of one of the phishing scams and have too much debt

If you’ve been scammed by one of the phishing scams, and now are trapped with high debt that you cannot repay, you need a professional trustee to help you manage the situation before it reaches a critical stage where bankruptcy is your only option. We have been able to help many individuals carry out a successful debt settlement program. It all began with debt counseling. The first step is a realistic household budget. Successful completion of such a program, will free you from the burden of your financial challenges to go on to live a productive, stress-free, financially sound life.

If you’re like many Canadians on the brink of a financial crisis, you need the help of a professional trustee today while you have options. The Ira Smith Team can help before disaster strikes. There is a way to manage debt Starting Over, Starting Now. Contact us today.

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Brandon Blog Post

DioGUARDI TAX LAW: BELIEVING THEIR INTENSE MYTHS KEEPS YOU FROM SOLVING YOUR DEBT PROBLEMS

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DioGuardi Tax Law – The Introduction

Several months ago we first introduced you to Philippe DioGuardi, a Canadian tax lawyer – The Tax Lawyer; Even a High Profile Tax Fighting Tax Lawyer Has to Pay His Income Tax. He’s the high-profile tax lawyer of DioGuardi tax lawyers who portrays himself as a one-man bulldog lawyer crusader against the unfair tactics of the Canada Revenue Agency (CRA). Ironically, at that time, a Toronto Star investigation revealed that Philippe DioGuardi had his own tax problems with the CRA and he paid up; the DioGuardi tax law couldn’t create the DioGuardi tax amnesty magic or “change the game”, to quote his own radio ads.

dioguardi tax law

DioGuardi Tax Law – The Change

Recently I noticed that Philippe DioGuardi, a prominently featured DioGuardi tax lawyer, was no longer featured in the radio ads. Instead, they are being voiced by his father Paul DioGuardi. The ads are now very low-key, with none of the old bluster and bravado. And, I wondered why DioGuardi tax law no longer featured Philippe DioGuardi, the tax lawyer in Toronto.

That is until I read the latest Toronto Star article about him stating, “Self-styled tax fighter Philippe DioGuardi has been given a six-week suspension, a $5,000 fine and an order to pay $75,000 in legal costs after being found guilty of professional misconduct by the Law Society of Upper Canada” (LSUC). So LSUC found law society misconduct charges were proven and assessed a tribunal penalty and didn’t buy into the DioGuardi tax law concept of income tax law, as written by Philippe, and so he has a brief rest from the practice of law – a twist on DioGuardi tax amnesty!

dioguardi tax law

DioGuardi Tax Law Professional Misconduct

The law society lawyer was successful in proving, according to the Order Summary of the Law Society Tribunal Philippe Joseph Mario DioGuardi (1990), of the City of Mississauga was found to have engaged in professional misconduct for:

  • failing to act with integrity by having eight clients execute a Retainer Agreement which contains terms that benefit DTL to the potential detriment of the tax debtors clients;
  • between April 2007 and October 2012, failing to deposit client money retainer funds received from six clients into a trust account or transferred the client retainer money from the trust to general within a few days of receipt of the funds prior to the performance of any or very little legal services for which he was retained;
  • transferring the retainer client funds paid by a client into DTL’s general account within a few days of receipt of the funds prior to the performance of any legal services for which he was retained;
  • immediately transferring the retainer funds paid by a client into a third party trust account for the benefit of DTL alone rather than for the client’s benefit and the client no longer had ownership of the monies;
  • failing to perform legal services to the standard of a competent lawyer in respect to six tax troubles matters.

DioGuardi tax law, as written by Philippe, is an interesting experiment. It may not be right, but it has certainly garnered a lot of attention.

dioguardi tax law

If you have too much debt, contact us

Do you or your company have unpayable tax debts? Are you looking for unpayable tax debt solutions? If you are an individual or company who needs to free themselves from the stress and strain of too much debt, and especially if you have been told your situation is hopeless, Ira Smith Trustee & Receiver Inc. can prepare and implement the plan made just for you, to free you from the burden of your financial challenges to go on to live a productive, stress-free, financially sound life. This plan includes resolving unpayable tax debt solutions. We have vast experience in helping people and companies with a variety of financial challenges.

If you’re experiencing serious debt issues with the CRA, or for any reason, contact a professional trustee for a free, no-obligation consultation. The Ira Smith Team does not try to write new insolvency law or tax law. Rather, we will evaluate your situation within the existing statutes, and help you to arrive at the best possible solution for your problems, whether that solution is a bankruptcy alternative like credit counselling, debt consolidation or a consumer proposal or bankruptcy. Starting Over, Starting Now you can be debt-free with the help of a professional, licensed trustee in bankruptcy.

Contact us today.

dioguardi tax law

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CANADA REVENUE AGENCY SCAMS: IF YOU READ ONE ARTICLE, READ THIS ONE

canada revenue agency scams
canada revenue agency scams

Canada Revenue Agency scams

Canada Revenue Agency, or as it is also known, CRA, has noticed an increase in telephone scams where the caller claims to be from the CRA but is not, and is asking Canadians to beware. There is a CRA newsletter on the issue of Canada Revenue Agency scams and the fake Canada Revenue Agency scammers. These calls are fraudulent and could result in identity and financial theft, or vulnerable people being bullied into making a payment to a bogus Canada Revenue Agency officer. They will try to make you believe that the payment is going to a legitimate CRA account, but it isn’t. There is no such CRA program.

Canda Revenue Agency scams: Anyone is a target

Everyone is at risk of having their identity stolen and it’s easy to be taken in. Most people get a little nervous when they receive a phone call from the CRA; it’s like having a police car driving right behind you even if you’re not doing anything wrong. Recognizing the importance of warning the public about identity theft, we have already published several blogs on the subject:

Canada Revenue Agency scams: It will never happen to me, right?

A recent event prompted us to reach out and let you know that anyone can be a target. Ira Smith of Ira Smith Trustee & Receiver Inc. recently received a voicemail at home from someone claiming to be from CRA collections. Being a seasoned, professional trustee and aware of the recent uptick in identity fraud scams, Ira was immediately on guard when the caller asked him to have his SIN number ready for security purposes. Ira Googled the phone number that was left on the voicemail and sure enough, it was a scam.

Click below to listen to the CRA scam voicemail

Canda Revenue Agency scams: Do the RCMP know about this?

According to Corporal Josée Rousseau of the RCMP’s anti-fraud department, police first started seeing the scam two years ago. Callers work from boiler rooms and randomly phone people from purchased calling lists. They tell their victims they’re from Canada Revenue Agency, and they owe money in unpaid taxes. The RCMP also stated the callers are aggressive and often claim they will come to the victim’s house and arrest them if the money is not paid. They say many of the callers speak with a foreign accent and insist the money be paid immediately, either by credit card or via Western Union.

If you get a call from someone claiming to work for the CRA and want to confirm the authenticity of the call contact the CRA at 1-800-959-5525 for business-related calls and 1-800-959-8281 for individual calls. Or you can do as Ira did and Google the number and see what other people are reporting.

Canda Revenue Agency scams: Tips to identify possible scams

Here are some tips from the Canada Revenue Agency to help you identify possible tax scams:

The CRA:

  • never requests prepaid credit cards;
  • doesn’t ask for information about your passport, health card, or driver’s license;
  • does not share your taxpayer information with another person, unless you have provided the appropriate authorization; and
  • never leaves personal information on your answering machine or asks you to leave a message containing your personal information on an answering machine.

When in doubt, ask yourself the following:

  • Is there a reason that the CRA may be calling? Do I have a tax balance outstanding?
  • Is the requester asking for information I would not include on CRA forms with my tax return?
  • Is the requester asking for information I know the CRA already has on file for me?
  • How did the requester get my email address or telephone number?
  • Am I confident I know who is asking for the information?

If you have too much debt you need to take action NOW

Have you been a victim of identity theft or financial theft? If for any reason you’re facing serious financial difficulties, contact Ira Smith Trustee & Receiver Inc. today. We will review your file and take immediate action to get you back on a path towards debt-free living Starting Over, Starting Now.

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VAUGHAN BANKRUPTCY TRUSTEE WARNS OF DANGERS IN TAKING FREE TAX ADVICE

Vaughan bankruptcy trustee, bankruptcy, trustee, tax season scams, income tax, income tax debt, Canada Revenue Agency, CRA, tax advice, tax professional, tax, starting over starting now, frequently asked bankruptcy questionsAs a Vaughan bankruptcy trustee, we always warn our clients that this time of year can be dangerous. In our last blog we warned you about tax season scams. This week your Vaughan bankruptcy trustee is warning you about the dangers of taking free tax advice. There are many places to get free tax advice, and quite frankly all of them are dubious. Unless the person giving the advice is a trained and licensed financial services professional, the only thing you should do with free tax advice is ignore it, or you could find yourself in a worse financial and legal position than you started in.

It seems that everyone is looking ways to avoid paying income tax. As we discussed in a previous blog The Tax Lawyer; Even A High Profile Tax Fighting Lawyer Has To Pay His Income Tax, there is no miracle cure or quick fix when you owe money to the Canada Revenue Agency (CRA). Yet that doesn’t stop people from posting all sorts of questions on the Internet looking for free advice. The problem is when you post questions in online forums and chat rooms you have no idea who is answering your question and giving you advice. As a Vaughan bankruptcy trustee, many times we are shocked to see the kind of advice is being posted on the Internet also about frequently asked bankruptcy questions.

Although we do not provide income tax advice, as a Vaughan bankruptcy trustee, we do set filters to obtain postings having to do with income tax debt; many questions and answers regarding income tax are posted. The Internet allows for anonymity and the person who has identified himself/herself as a tax professional may in reality be a teenager having some fun. Or worse, perhaps it is a scammer or malware malcontent collecting email addresses! Although the Internet can be a valuable resource, online forums and chat rooms are not the places to seek tax advice. The same applies to well meaning friends, family and colleagues unless they are trained financial services professionals.

Seek financial advice from a trained, experienced, licensed professional ONLY! If you’re experiencing financial difficulties for any reason including monies owed to the CRA contact your Vaughan bankruptcy trustee, Inc. today. Starting Over, Starting Now you can put your financial difficulties behind you.

 

Call a Trustee Now!