Has anyone experienced problems with the alternative minimum tax calculation in profile? CRA calculated a lesser amount for a return that we processed in Profile Premier.

The difference between Profiles calculation and CRA's is significant, not just rounding.

Answer

Tax Preparer,

CRA calculates Alternate Minimum Tax (AMT) on “every” return and so does ProFile even if, in the vast majority of cases, it will not apply. We haven't heard of any instance where ProFile calculated AMT incorrectly.   The only way we will be able to determine what has gone on is to get the files and the assessments to sort out where CRA disagrees.

Our suggestion is that you send us a copy of the Notice of Assessment (NOA) as well as the 2011 tax return for investigation.  Please provide us your email address, we will send you a secure email link that you can use to attach a scanned copy of the NOA and the 2011 tax return for emailing to us.

Thank you.
Hardev
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