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CRA Tax Adjustment Delays Now Stretch Up to 47 Weeks — Here's How to Avoid Getting Stuck

   July 12, 2026   If you've ever filed a request to correct or update your tax return and then waited... and waited... you're not imagining it. Canada's Taxpayers' Ombudsperson has confirmed that some Canada Revenue Agency (CRA) adjustment requests are now taking nearly a year to process — and it's launched a formal investigation into why. What's Actually Happening When you need to change something on a tax return you've already filed — say you forgot a slip, need to update a deduction, or want to claim a credit you missed — you submit what's called a T1 adjustment request. The CRA sorts these into two speeds: Routine requests (filed online through your CRA My Account or certified tax software) have a service standard of just 2 weeks . By phone or mail, the standard is 8 weeks. Complex requests — where the CRA needs more documentation or a deeper review — carry a service standard of 20 weeks . The problem: the CRA isn't hitting even its own "...
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US Inflation Surges in January, Raising Concerns for Fed and Markets

 

The US consumer price index (CPI) rose 0.5% in January from the previous month, exceeding economists’ expectations of a 0.2% increase, according to data released on Tuesday. The annual inflation rate jumped to 3.1%, the highest level since March 2021, and above the Federal Reserve’s 2% target.

The surge in inflation was driven by higher costs of energy, food, shelter, and transportation, reflecting the impact of supply chain disruptions, labor shortages, and rising demand amid the economic recovery from the pandemic. Core inflation, which excludes volatile food and energy prices, also rose 0.4% in January, the largest monthly gain since July 2021.

The higher-than-expected inflation report rattled the financial markets, as investors feared that the Fed might have to tighten its monetary policy sooner than anticipated to prevent the economy from overheating. US stock futures fell after the release of the data, while the yield on the 10-year Treasury note rose to 2.09%, the highest level since January 2020.

The Fed has maintained that the current inflation spike is transitory and largely reflects the base effects of low prices a year ago, as well as the temporary factors related to the reopening of the economy. The central bank has signaled that it will keep its benchmark interest rate near zero and continue its bond-buying program until the labor market and inflation reach its goals.

However, some analysts and policymakers have warned that the inflation pressures could persist and become more widespread, posing a threat to the economic outlook and the Fed’s credibility. They have urged the Fed to act more aggressively to rein in inflation and prevent a loss of confidence in its ability to maintain price stability.

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