Do I have to pay interest?

I just got audited from revenue canada, because I put the incomed I earned on line 104 instead of line 166.


They want me to pay CPP.


Do I have to pay interest, if it was an honest mistake?

Do I have to pay interest?
You owed the money when it was due, they are required to charge you interest. How do they know if it's an 'honest' mistake? They can't tell, so you're on the hook.
Reply:You could make adjustment by filling out adjustment form. You could download from ccra web sites.


Make Adjustment for the year you had made mistake in the taxation year.


Line 166 reverse it and make it zero balance


Line 104 add your income





And send the audited statement which came from rev. Canada with the adjustment.





For Adj. form and more info look into this web sites.





If you owe the rev. Canada you have to pay interest on the amount.





http://www.cra-arc.gc.ca/ebci/cjcm/searc...
Reply:LOL, I'm in the U.S. and the IRS told me a few months ago that I had made an error on my taxes and owed an extra $400 or so... so I gave it to them and they come back now and ask me for interest that they didn't even tell me about on the first correction. Leaches, but you'll be screwed if you don't pay up. I guess it's for a good cause...
Reply:If it was an honest mistake, call them and ask for a one time abatement.





They should lower the interest substantially or remove it altogether.