Get Taxpayer Relief Request Statement Of Income And Expenses And Assets And Liabilities For Individuals

Filling out the Taxpayer Relief Request Statement of Income and Expenses and Assets and Liabilities for Individuals form can seem daunting, but with this guide, you will be equipped to provide the necessary financial information clearly and accurately. This document is essential for individuals requesting taxpayer relief based on financial hardship or an inability to pay.

Follow the steps to complete the form online.

1. Click ‘Get Form’ button to obtain the form and open it in your browser.
2. Begin by filling in your personal information, including your name, date, home address, Social Insurance Number (SIN), and contact numbers. Ensure that the details are entered accurately.
3. Input your employer's name and address. If you are self-employed, attach current business financial statements and a copy of Form T2125 – Statement of Business or Professional Activities.
4. In the Monthly Household Net Income and Expense Statement section, list all sources of household income on a monthly basis. Include employment income, benefits, and other income sources. Make sure to provide accurate figures for each entry.
5. Next, complete the Expenses section by detailing all monthly expenses, such as housing costs, utilities, groceries, and transportation. This will help assess your financial situation.
6. Proceed to the Asset Statement section where you will list details of your assets, including bank accounts, real estate, vehicles, and investments. Be as specific as possible regarding market values.
7. In the Liability Statement section, indicate any debts, including loans, credit card balances, and other financial obligations. This will provide a comprehensive view of your financial responsibilities.
8. After filling in all sections of the form, review your entries for accuracy. Make any necessary edits to ensure all information is correct and complete.
9. Once satisfied with your form, save your changes. You may also choose to download, print, or share the form as needed.

Complete your Taxpayer Relief Request Statement online today to take the next step in addressing your financial situation.