The Taxman Is Watching, by Tax Lawyers
Paul and Philippe DioGuardi
Harper Collins Canada 2008
Or read the transcript below.
After 10 weeks on the bestseller list the year of its release, this book continues to be popular in bookstores and on-line. I asked author Philippe DioGuardi to talk about what keeps the book fresh, and why ordinary taxpayers keep buying it. The following is a transcription of our interview.
You’ve written a book – The Taxman is Watching. Published by Harper Collins Canada.
It’s been out for a few years now… but it’s still on bookstore shelves and still selling strong. Why is that?
Some things never go out of date. There will always be people who think they’re too smart or too important to play by the rules. No matter how inventive they think they are, they’re all doomed to repeat the mistakes of every other smart guy with the same idea. So while there have been some small changes since we wrote that book… ….things like thresholds for consumer proposals, or tweaks to collection and enforcement policies….the law is the same. The problems people get into are the same. The tricks they play to avoid paying tax, that really doesn’t change. So the book is as useful today as it was when its was published.
It’s been suggested that The Taxman is Watching is essential reading for everyone who files a tax return. Is it?
I think it’s even more important for people who DON’T file.
You might think you can get away with it. But when the CRA eventually catches up to you… when you get hit with years of repeat late filing penalties at up to 50% of the tax assessed, plus interests compounded daily on that top of it all. In five years or less your tax bill is easily double what it would have been had you filed on time, or even only a year late.That’s the type of thing we wanted Canadians to understand.
We also talk about the innermost workings of the CRA, and some of their favourite strategies for stalking people before they slam them with an audit.
Definitely a must read for us all.
You could call it that. I think it more of a Tax Guide 101.
Everything you wanted to know about tax but were afraid to ask?
Maybe…But the book doesn’t replace the advise of an experienced tax lawyer. If you have a tax problem, you call my office and talk to me. In person.
Whether you’ve been afraid to ask, or you just want to know what can get into tax trouble, The Taxman Is Watching is available in bookstores, and online from chapters/indigo.ca and amazon.ca. It’s also available as a ebook.
Buy it, download it, read it, and then review it for us here.