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Hi davego2, I think revcan debt is absolved from statute of limitations as it is resolved from most anything and they are entirely sincere when they say they can take your OAS Canada Pension, etc. as they told me, until your tax debt paid is off. My husband has been there and done that and it isnt nice. If you think collection agencies are cut throat, they have nothing on revcan.
If you owe CCRA and cannot pay the balance in full, you can explain your financial situation to CCRA and negotiate a payment plan. For example, if you owe $1,000, you may offer to pay $100 per month for the next ten months. Be aware that even if CCRA accepts your offer, you will continue to be charged penalties and interest until your debt is paid in full.
If you are unable to successfully negotiate terms, CCRA may take further action against you to collect the taxes owing. They can withhold tax refunds and GST Credits, garnish your wages or accounts receivables, take funds from your bank account and/or place a lien on any real property you own until your debt is paid in full. They do not have to go through the Courts so they can act very quickly.
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