The countdown is on…only 9 days left in the 2020 personal income tax season. Have you filed your taxes yet?

As an experienced accounting firm in Winnipeg, F.H. Black & Company understands how stressful tax season can be. Our team of 20+ accounting and client-servicing professionals provide tax preparation and processing services to individuals and businesses throughout Manitoba. We also regularly handle final income tax returns, estate tax and trust returns, helping families sort out these difficult details when the time comes.

Do you want to avoid paying CRA penalties and interest? Here’s how:
  • The personal income tax filing deadline is April 30, 2021.
  • To avoid late-filing penalties and interest, you must ensure that your returns are filed by April 30, 2021, and that payments are made by April 30, 2021.
  • For individuals with self-employment income, the filing deadline is June 15, 2021, however the payment deadline remains April 30, 2021.
  • Filing on time avoids delays and ensures that you receive the refunds, benefits, or credit payments that you may be entitled to, in a timely manner.
Are you in need of tax preparation assistance in Winnipeg?

At our offices we follow strict social distancing and COVID-19 procedures to ensure the safety of our employees and staff. While in-person meetings can be helpful, we also offer virtual meetings for tax preparation. Appointments for both in-person and virtual meetings are required. This way we can ensure that we have time to address the unique tax filing needs of each of our clients.

To further make your income tax filing process as painless as possible, we offer many options for submitting your documents. Pick-up and delivery services, hard copy drop-off, or electronic submission via email and our secure client portal can all help streamline your taxes this year. Additionally, as an F.H. Black & Company client using our secure client portal, your historical tax information completed by our firm will be stored safely for you to access online at any time.

We can also help guide you through the impact of COVID-19 on your 2020 income taxes. Here are a few factors to keep in mind:
  • If you worked from home in 2020 due to COVID-19, you may be able to claim certain employment expenses, including office in home and supplies expenses.
  • If you received federal, provincial, or territorial government COVID-19 income/financial support such as the Canada Emergency Response Benefit (CERB), these amounts may be taxable. You may have received a slip, such as a T4A or T4E, with instructions on how to report these amounts.
  • If you are self-employed, you may have received federal, provincial, or territorial government COVID-19 assistance for your business, such as the Canada Emergency Wage Subsidy (CEWS) or you may have received a government loan. Either of these amounts will need to be addressed in your business tax filing, with specific options pertaining to each.
  • If you received the Canada Recovery Benefit (CRB), you may have to repay all or part of it if your net income, after certain adjustments, is more than $38,000.
  • If you received at least one COVID-19 benefit in 2020 (I.e., CERB, CRB, EI) and your 2020 taxable income was less than $75k, CRA will automatically apply interest relief on any 2020 taxes owing. If you meet the eligibility criteria, you will not need to pay interest on 2020 taxes owing until April 30, 2022.

We recommend working with a reputable accounting firm to make sure your income tax preparation and filing goes smoothly. F.H. Black & Company has over 30 years of experience in Winnipeg serving individuals and businesses throughout Manitoba, and we are focused on helping each client experience a successful income tax filing process.

For more information about our tax services, or for immediate assistance preparing your 2020 income taxes before the deadline, please contact us to book an appointment with one of our exceptional accounting professionals.