Reassessments – Adjustments to your T2 return
After you file your T2 Corporation Income Tax Return, the Canada Revenue Agency (CRA) can review the information you provided as part of its normal assessment process. Your return may be (re)assessed to correct errors, update information, or reflect changes identified by the CRA.
In addition, you may also request changes to an assessed T2 return if you need to correct amounts or forgot to include information.
A reassessment can change the amount of tax you owe, including interest and penalties, or the refund you receive.