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The Procrastinator’s Guide: 7 Last-Minute Tips for Filing Your Taxes

Mark Virgil Lofranco • 26 November 2024

Dorothy Parker once said, “I don’t like writing. I like having written.” Taxes are kind of like that—whether you’re a natural procrastinator or an eager beaver, nothing feels better than knowing you’ve finished filing. With a bit of preparation and these last-minute tips, you’ll be crossing “file taxes” off your to-do list in no time. So, what are you waiting for? Let’s get started!

1. File on Time to Avoid Penalties


As much as you may want to put off filing, missing the deadline comes with consequences. The Canada Revenue Agency (CRA) has strict due dates for tax returns and payments, and late filings result in penalties and interest.

The 2023 tax deadline for individual returns is April 30, 2024, while self-employed individuals have until June 17, 2024. However, if you owe taxes, interest will start accruing on May 1, 2024.

Pro tip: File as soon as possible—if you’re owed a refund, you’ll get it faster!


2. Organize Your Documents



Ideally, you’ve been keeping track of your receipts and tax forms throughout the year. If not, no worries—TurboTax has a handy tax checklist that covers everything you’ll need to file accurately.

Stay organized by downloading the checklist and gathering all the necessary documents before you start filing.


3. Set Up a CRA My Account


Having a CRA My Account is like breezing through the express checkout lane. It’s the fastest, most secure way to access and submit your tax slips (like your T4s) and manage your benefit payments.

It takes only a few minutes to set up, and once you’re signed up, you can enjoy the convenience of getting your refund faster via direct deposit.


Here’s how to set up your CRA My Account.


4. Use Auto-fill My Return (AFR)


Missing a tax slip or forgetting an RRSP contribution can lead to penalties and interest. With Auto-fill My Return (AFR), you can import your tax information directly from CRA My Account into your tax return, ensuring everything is accurate and complete.

Want to streamline the process? Here’s how to activate Auto-fill My Return with TurboTax.


5. Claim Every Tax Credit and Deduction


Don’t leave money on the table! There are hundreds of tax credits and deductions that can maximize your refund or reduce your tax bill. The best part? TurboTax automatically searches for over 400 credits and deductions, making sure you don’t miss a thing.

No matter your situation, there’s a credit or deduction you can claim—make sure you get them all!


6. Sign Up for Direct Deposit


Direct deposit is a game-changer when it comes to receiving your tax refund and government benefits. By signing up for direct deposit with the CRA, you’ll receive payments like GST/HST credits and child benefits directly into your bank account—no waiting for a check in the mail!


Here’s how to sign up for direct deposit with the CRA.


7. Get Expert Help When You Need It


If you’re filing your return last-minute but still want some expert guidance, TurboTax Assist & Review has you covered. A tax professional is available 24/7 to answer your questions and review your return for accuracy before you file.


Filing your taxes doesn’t have to be stressful, even if you’ve left it until the last minute. With these tips, you’ll be done in no time—ready to enjoy that “I’ve filed!” feeling.

You’ve got this!


Key Takeaways


  • File your taxes before the deadline to avoid interest or penalties.
  • Sign up for CRA My Account and use Auto-fill My Return (AFR) to save time and reduce errors.
  • Use a tax checklist to make sure you have all the necessary forms and receipts before filing.

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