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September 25, 2013

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Accountant Fined $50k for Tax Evasion

A Saskatoon accountant was fined nearly $50,000 and sentenced to a nine month conditional jail term after being found guilty of tax evasion. Robert Tiffin, 70, was fined $49,561 for understating his net income from his accounting practice by $204,779 for the 2004 to 2007 tax years.

Tiffin will also serve a jail term of nine-months in the community as well as 100 hours of community service. He will then be under house arrest for the first month of the order.

The charges are a result of an investigation performed by the Canadian Revenue Agency (CRA), which discovered Tiffin’s records showed he had the proper information to claim all the money he had made for those four tax years.

According to the CRA, people who have not reported all of their income in previous years can correct the problem without being penalized or prosecuted if they make the disclosure before the agency takes action against them.

Offshore Accounts/International Tax Disputes