In order to facilitate the accurate preparation of your 2020 T4 information returns, we are pleased to enclose a summary of certain taxable benefits that may apply to your employees, including new information for 2020 filings.
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It should be noted that, as mentioned last year, if you are submitting more than 50 information returns (slips) you are required to file electronically. If you fail to comply with this requirement, you may be subject to an incorrect filing format penalty. We can assist you in ensuring your compliance with these new rules.
If your T4 information return is being prepared by Lipton LLP, we will be electronically filing all 2020 T4 information returns whenever possible. If you have any questions concerning the preparation of 2020 T4 information returns and slips, please contact your Lipton advisor.
