OTTAWA, April 18, 2018 /CNW/ - Today in Ottawa, Tax-Filer Empowerment Canada (TFEC) was officially launched. TFEC is a national industry association dedicated to promoting the adoption of innovative and impartial tax preparation methods that provide peace of mind to Canadians at tax time.
TFEC's eight founding members are some of the most recognizable names in the tax preparation and software industry. TFEC's founding members are:
- H&R Block Canada
- Thomson Reuters
- Liberty Tax
- American Coalition for Taxpayer Rights
- Wolters Kluwer
- Trilogy Software
TFEC was founded to ensure Canadians continue to benefit from the efficient, cost effective and innovative tax filing services and software options that they have come to expect from our industry. By coming together as an association, industry will assist in the continued evolution of Canada's system of tax self-assessment – whereby Canadians file their tax declarations to the Canada Revenue Agency (CRA) and Revenue Québec (RQ) – in a manner that delivers the fairness, impartiality and efficiency that Canadians deserve when filing their taxes.
"This initiative will help to improve collaboration between the Canada Revenue Agency and the tax preparation and software industry as well as leverage the innovation happening in the Agency and this sector. We share a common commitment to improving services for Canadians by making tax-filing easier and more efficient," said Diane Lebouthillier, Minister of National Revenue.
Last year, over 25 million tax returns were digitally prepared and filed with third-party software to the CRA and RQ, representing over 87% of all tax returns in Canada. Through close collaboration with revenue agencies, our industry has been a catalyst in the evolution of tax compliance. What was once an activity dominated by paper, is now a system that is overwhelmingly digital. Over the past 20 years, tax filing has moved from a system that placed an enormous burden on citizens, to one that primarily involves easy-to-use digital solutions for tax filers and tax preparers, and a simplified assessment capability for the government agencies who process tax declarations.
In order to ensure that Canadians from all corners of the country continue to benefit from the innovations delivered by private sector investment and invention, our industry has created TFEC to provide a unified perspective to most effectively partner with the CRA and RQ in service to the Canadian taxpayer.
TFEC member companies' electronic filing offerings range from:
- In-person (brick-and-mortar) tax preparation
- Do-It-Yourself (DIY) software
- Do-it-with-me software (software which provides live assistance from a professional tax preparer)
- Professional software (used by CPAs, attorneys, enrolled agents and independent tax preparers)
"Ensuring that Canadians fairly and accurately receive all the credits and deductions they deserve in the tax compliance process is the central mission of independent private sector tax products and services industry. We look forward to working in partnership with the Canada Revenue Agency and Revenue Québec so that tax compliance will continue to evolve in a manner that puts Canadian taxpayer interests first," stated Chris Gray, TFEC's newly appointed Executive Director. "Our industry is dedicated to building on its historic working relationship with the CRA and Revenue Québec to help ensure that the Canadian tax system keeps pace with Canadians' expectations, and that our independent products and services remain easy to use, affordable and most of all, accessible in every corner of the country," continued Gray.
SOURCE Tax-Filer Empowerment Canada (TFEC)
For further information: on TFEC and for all media inquiries, please contact: Chris Gray, Executive Director, Tax-Filer Empowerment Canada, Email: firstname.lastname@example.org / email@example.com, Website: www.tfecanada.ca