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Missing Out on the Disability Tax Credit?

September 09, 2013
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The biggest problem with the Disability Tax Credit is not enough people know about it. Some people looking for disability support wonder why they are just hearing about the Disability Tax Credit now. Many of them could have qualified years ago. However, a great feature of the program is that it is retroactive. It can go back 10 years and return between $1,500 and $40,000 to an individual.

Missing Out on the Disability Tax Credit Missing Out on the Disability Tax Credit?

This does not make up for the fact that only a few people are aware of the Disability Tax Credit. Those who feel out-of-the-loop wonder why accountants or doctors never mention the tax credit. Once one becomes aware, it can be overwhelming to learn about the program and application process. Thankfully, it is never too late to become knowledgeable about the Disability Tax Credit and take steps towards financial relief.

Should Accountants Know About the Disability Tax Credit?

Many people believe accountants should know about the Disability Tax Credit. But the truth is that most accountants are not aware of the Disability Tax Credit, how to apply for it, how it benefits their clients, or which clients may qualify.

More so, accountants play no role in filling out the T2201 form. This is the sole responsibility of a person living with a disability. Only after an individual qualifies for the Disability Tax Credit does an accountant become involved. This professional may be useful in applying the savings to tax forms.

While this program is a federal benefit it is still a disability support program. Most accountants do not know the ins and outs of these benefits.

Should Doctors know about the Disability Tax Credit?

A number of people with disabilities are surprised their doctors do not inform them about the Disability Tax Credit. Sadly, many doctors are unfamiliar with the benefits program. This is unfortunate because they cannot make patients aware of money saving options that may apply to them.

Worse yet, their contribution to T2201 forms are vital. Without being knowledgeable of the program they can cause people to be disqualified for the Disability Tax Credit because they don’t know what needs to be included on the application. Some even believe that an individual must be confined to a wheelchair to receive the credit. They are unaware that many disabilities, diseases, and conditions qualify.

The only service that knows the Disability Tax Credit in and out is offered by Benefit Specialists. The National Benefit Authority is the best place to seek advice. Their Benefit Specialists can help an individual understand the tax credit and application process.  Instead of depending on doctors and accountants to ensure full benefits are received, speak with the professionals who know. The National Benefit Authority can be reached at 1888-389-0080. Or fill out this form to connect with Benefit Specialists soon: http://www.thenba.ca/free-consultation.html.

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