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Do I Report My Box 40 Amount on My Tax Return? Although the amount in Box 40 is already included in Box 14, entering it again will not affect your tax return or add it again to your total income. It is for information purposes only.
If an employer does not withhold deductions, or if it makes deductions but does not remit them, it becomes liable for the amount that should have been remitted. The CRA can go as far as taking legal action, such as garnishing your salary or other sources of income or seizing and selling property.
Sec. 6672(a) imposes a 100% civil penalty on responsible officers in cases of failure to withhold and/or pay over employment taxes. Sec. 7202 makes failing to meet employment tax obligations a felony, punishable by a fine of not more than $10,000, prison for up to five years, or both.
Identification and pre-numbered boxes Employer's name. Enter your operating or trade name. ... Employee's name and address. ... Year. ... Box 10 ? Province of employment. ... Box 12 ? Social insurance number. ... Box 14 ? Employment income. ... Boxes 16 and 17 ? Employee's CPP or QPP contributions. ... Box 18 ? Employee's EI premiums.
How to fill out Year. ... Employer's account number. ... Name and address of employer. ... Line 88 ? Total number of T4 slips filed. ... Line 14 ? Employment income. ... Line 20 ? Registered pension plan (RPP) contributions. ... Line 52 ? Pension adjustment. ... Line 16 ? Employee's CPP contributions.