2020 has already been coined one of the most complicated tax filing seasons on record.
And things just got a little more complicated after Canada Revenue Agency locked out approximately 800,000 Canadians out of their CRA accounts as a precaution.
Think back to February when there was a threat a potential hacking had occurred. If CRA suspects there could be a reason you could be hacked, they will take preventative action. And that is exactly what they are doing by advising you a potential threat may have occurred.
By way of background, the government continually monitors activity on the dark web and if they suspect username and passwords that match CRA e-mails and passwords go “up for sale” then they will move to aggressively lock out the account so it doesn't get compromised.
How does this happen? If you tend to use the same password on different platforms you could get red-flagged.
What happens next? Your email will be removed from your account and you will be notified by email -- if that has been highlighted as your communication preference -- or simply by mail.
If your account has been impacted you can regain access by using a different login, like a banking login, or by creating a new user ID and password. You will be asked to create a new unique PIN that will be sent to you via mail.
Begin by taking the following steps:
COVID-19 has wreaked havoc on our lives in many ways, including our financial lives. Think about it: there have been taxable government benefits, unsteady income levels resulting from the opening and closing of the economy, and new credits for those working from home.
The result: almost all of us have something new or different to report, so it isn't going to be an easy filing process this year.
Despite these frustrations for Canadians keep in mind the deadline to file your tax 2020 return as of right now remains April 30.
-- with files from CTV News --