How To Choose A Reputable Investigation Insurance
You will never know when you are going to be subjected to a tax enquiry by Canada Revenue Agency (CRA) until you finally get the communication letter from the agency. Thus, it pays to be ready and obtain tax investigation insurance. You can find a lot of accountancy insurance companies if you want protection should you or your office be subjected to enquiries, investigation or reviews of a file return. A tax investigation insurance will cover all the expenses and fees incurred during the enquiry process. This will protect the company from getting financially shocked with all the fees and charges accrued during the investigation, which can amount to hundreds to thousands of dollars. With a tax investigation insurance, you won’t have to worry about unexpected financial obligations out of the proceedings because you have an insurance coverage to fall back on.
Tax investigation insurance can be purchased by individuals as the owner of a business entity or by corporations. If you want coverage for this type of insurance, check around for insurance providers on the internet but do not fail to check the company’s reputation. Find out how long has the company been in the industry. It would be better to choose an insurance company that has more than 10 years experience in the business or even more.
Before getting an insurance coverage from a tax insurance provider, conduct a research on the internet and find out what reviews and client testimonials are saying about the company. Client testimonials can be found on the insurance provider’s website and in third party websites that are related to tax insurance. You may also want to call the previous clients of the insurance company to get some information straight from their former clients. Avoid companies with negative feedback especially in terms of compensation and paying the government officials involved in the proceedings. The payment should be swift and prompt. Otherwise, look for a different tax investigation insurance to assist you in the process. Compare services and coverage from at least 3 or 5 services providers.