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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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Wall Street Braces for Economic Turbulence Amid New Tariffs


President Donald Trump's recent imposition of tariffs—25% on imports from Canada and Mexico, and 10% on Chinese goods—has sent ripples through global markets, with investors expressing concerns over potential economic repercussions. The tariffs, set to take effect on Tuesday, have prompted fears of increased inflation and a slowdown in economic growth.

Analysts warn that these tariffs could lead to higher production costs for U.S. companies reliant on imported materials, potentially squeezing corporate profits. Barclays previously estimated a 2.8% decline in S&P 500 company earnings due to such trade measures.

The consumer sector is also expected to feel the impact, with anticipated price increases in everyday goods such as groceries and household items. Goldman Sachs projected a 0.7% rise in core inflation if tariffs extend to Canada and Mexico.

In response to the U.S. tariffs, Canada and Mexico have announced retaliatory measures, further escalating trade tensions. China has indicated plans to lodge a complaint with the World Trade Organization and is considering countermeasures.

The financial markets have reacted to these developments with increased volatility. The Dow Jones Industrial Average recently fell 0.8%, while the S&P 500 and Nasdaq composite dropped 0.5% and 0.3%, respectively, erasing earlier gains.

Investors are now closely monitoring the Federal Reserve's response, particularly regarding interest rate policies, as the central bank aims to balance economic growth with inflation control. The situation remains fluid, with market participants bracing for further developments in the evolving trade landscape.

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