Tax Tip/Reminder: Pay On or Before May 5, 2015 to Avoid Any Interest on Your 2014 Income Tax and Benefit Return


OTTAWA, ONTARIO--(Marketwired - May 4, 2015) - The Canada Revenue Agency (CRA) encourages you to use its quick, easy, and secure electronic services to file your income tax and benefit return on time and pay any amount owing. Any returns filed by midnight on or before May 5, 2015, will not incur penalties or interest.

If you or your spouse or common-law partner is self-employed, the deadline to file your 2014 income tax and benefit return is midnight on June 15, 2015. However, you still have to pay any balance owing on or before May 5, 2015.

The CRA invites you to join the growing number of Canadians who are filing electronically. NETFILE is one of the CRA's convenient and secure electronic tax-filing options. NETFILE lets you file your return with the CRA at your convenience using the Internet. For a list of software and web service options, including some that are free for everyone, go to www.netfile.gc.ca/software.

If you have a balance owing, you can make your payment using your financial institution's telephone or Internet banking service. For more information about online payments, go to www.cra.gc.ca/payments or contact your financial institution.

You can also pay using the pre-authorized debit online service offered through My Account. The pre-authorized debit service lets you set up a payment to be made from your bank account to the CRA on a pre-set date; pay an overdue amount or make instalment payments and set up a pre-authorized debit agreement at your convenience.

You can also make a payment using the CRA's My Payment service. My Payment lets you make one or more payments in one simple online transaction. You can use this service if you have access to online banking at a participating financial institution.

For tips that will help you get ready to file your 2014 tax return, go to www.cra.gc.ca/getready.

Worried you can't pay your full tax bill on or before May 5?

If you can't pay the full amount of taxes you owe, you may be able to make a payment arrangement with the CRA. If we agree that you are unable to pay in full, an agent can work with you to develop a plan to help you pay your taxes. For more information, go to www.cra.gc.ca/paymentarrangements or call 1-888-863-8657. Our agents are available Monday to Friday (except holidays) from 7 a.m. to 11 p.m., Eastern Time.

Correct your tax affairs through the Voluntary Disclosures Program

The Voluntary Disclosures Program allows taxpayers to come forward and correct inaccurate or incomplete information or to disclose information they have not reported during previous dealings with the CRA. Taxpayers may avoid being penalized or prosecuted and only pay the taxes or charges owing, plus interest, if they make a valid disclosure. For more information, go to www.cra.gc.ca/voluntarydisclosures.

Get personal and general tax information from the automated Tax Information Phone Service (TIPS)

If you need help at tax time, the Tax Information Phone Service (TIPS) is an automated telephone service that provides personal and general tax information to individuals. You can call TIPS at 1-800-267-6999. The CRA also offers extended evening hours on the individual income tax enquiries line until May 5, 2015. This service is available at 1-800-959-8281. For more information on the extended hours for our telephone service, go to www.cra.gc.ca/extendedhours.

Stay connected

To receive updates when new information is added to our website, you can:

- follow the CRA on Twitter - @CanRevAgency.

- subscribe to a CRA electronic mailing list.

- Add our RSS feeds to your feed reader.

You can also watch our tax-related videos on YouTube.

Contact Information:

Philippe Brideau
Media Relations
Canada Revenue Agency
613-941-6269