What happens if i lost my notice of assessment

When will I get my NOA? Is the date I receive my NOA important? Where should I keep my NOA? I lost my NOA. What should I do? Share this article.

Tax Tips. Tax Basics. Learn about the responsibilities and tax obligations of professional representatives and about My Account for professional representatives. Learn about the partnerships we create with developers of products related to our fields of activity, SRM installers and QESI promoters, trustees and mandataries.

Online Services Forms and Publications. Use our online services and download our forms, publications and guides. Search search Launch search. Learn More. Paying a Balance Due or Receiving a Refund. Our goal is to issue your notice of assessment: within 14 days if you file your income tax return online; or within 28 days if you file your income tax return by mail. Since we start processing returns at the beginning of March, wait until the beginning of April before contacting us for information, even if you filed your return in January.

If you file your return after March 31, wait four weeks before contacting us. Once the tax returns are submitted, the tax authorities send a notice of assessment of the taxes.

The notice of assessment confirms the information provided in the tax return filed and informs the person concerned of what they must do to regularize their situation. Generally, this settlement is the amount of money that must be paid to the IRS to be in good standing, or the notification of a tax refund. This first amount depends on the person's declared situation, what they have already paid before and what the institution may potentially owe them.

This is why each of these institutions sends a separate notice of assessment, according to the tax rate of each. You will receive a notice of assessment a few days if filing electronically or weeks if filing by mail after you submit your tax return.

Once you receive the notice, you are required to pay the amount requested, using a form of payment that may be attached to the document such as a returnable form. You may also make your payment with the amount of a possible tax refund. Being late with your taxes could result in interest and penalties being charged on the notice of assessment attached to the late tax return.

However, if you are also late in processing your notice of assessment or even multiple notices, you may be subject to a more serious penalty: receiving an arbitrary notice of assessment. This is a response to your unanswered notices of assessment and shows the total balance you owe the tax institution.

On top of that, there's a hefty interest charge and penalties. It is important to keep your notices of assessment because they are proof that you have filed your income tax returns with the appropriate tax authorities.