How Will the CRA Strike Impact Your 2023 Taxes?
The Canada Revenue Agency (CRA) strike is looming, and it could have significant consequences for taxpayers across the country. The Public Service Alliance of Canada (PSAC), the largest federal public sector union, has been bargaining with the CRA for a new collective agreement since June 2019, but the talks have stalled over issues such as pay, workload, and job security. PSAC has announced that its members who work at the CRA will hold a strike vote between Jan 31 to April 7, 2023, and if they vote in favour of a strike, they could walk off the job any time after April 7 2023.
Don’t miss out on personal finance news subscribe now➡https://www.youtube.com/@moneytimecoaching
The CRA is responsible for administering the tax laws and collecting taxes on behalf of the federal government. If the CRA employees go on strike, the agency's operations could be disrupted, leading to delays in processing tax returns, issuing refunds, conducting audits, and answering taxpayer inquiries. The impact of the strike could be felt by individuals, businesses, and non-profit organizations who rely on the CRA's services to comply with their tax obligations and access government benefits.
In a video I recently did titled "Canada Revenue Agency Strike is Coming How it Will Impact Your 2023 Taxes," which you can watch here https://youtu.be/iZTfJPhEYjI , I explain the potential effects of the CRA strike and offers some tips for taxpayers to mitigate the risks. For example, I recommend that taxpayers file their tax returns early, keep copies of all documents and receipts, and use online services such as My Account and MyCRA mobile app to check their tax information and track their refund status.
Moreover, I did not mention the importance of being aware of scams that may arise during the CRA strike in my video so, I will mention it here. Scammers may impersonate CRA employees or offer fraudulent services that promise to expedite tax processing or reduce tax debt. I would advise taxpayers to be cautious of unsolicited emails, phone calls, or text messages that ask for personal information or payment, and to report any suspicious activity to the CRA or the Canadian Anti-Fraud Centre.
When the strike comes, be prepared for more fraud attempts
In conclusion, the looming Canada Revenue Agency strike is a reminder of the critical role that public sector workers play in our society and the challenges they face in negotiating fair working conditions. As taxpayers, we can prepare for the potential impact of the CRA strike by staying informed, being proactive, and avoiding scams. By doing so, we can minimize the disruption and stress that the strike may cause and ensure that our tax affairs remain in order.
Note: This article is for informational purposes only and should not be construed as legal or financial advice. Taxpayers should consult their own tax professionals for personalized guidance on their specific tax situations.