Nearly 1.4 billion unashed cheques issued by CRA

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Nearly 1.4 billion unashed cheques issued by CRA

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You can see other videos from our team by tapping here. If you have one of the 8.9 million uncashed cheques issued by the CRA on Monday, the government revealed that it has about 1.4 billion worth of cheques that have gone uncashed over the years. There were an estimated 8.9 million uncashed cheques with the CRA as of May 2022. How can I get my money? The CRA issues millions of dollars in the form of tax refunds and other government benefits each year. Most of the payments are issued via direct deposit, but some are still issued by cheque. Some of these cheques are left uncashed for a variety of reasons, such as the taxpayer misplacing them or perhaps the cheque was never delivered to its recipient due to a change of address. You can see an option under related services called uncashed cheques when you log in. The CRA can not void the original cheque unless you request it, as government cheques never expire or become stale dated. The upcoming e-Notifications are intended to encourage taxpayers to cash any cheques they may have in their possession. Breanne Stephenson, a CRA spokeswoman for Breanne Stephenson said that the money belongs to Canadians and they want to help them reclaim these funds. This can be done easily through My Account. Taxpayers who are not currently signed up for My Account or email notifications can find out if they have any uncashed cheques by calling 1 - 800 - 959 - 8281. Jamie Golombek, CPA, CA, CFP, CLU, TEP, is the managing director of Tax Estate Planning with CIBC Private Wealth in Toronto.