April 5, 2019
Further to our March 26, 2019 post below with respect to an issue that was brought to our attention regarding tax slips mailed to former employees and retirees by the Monitor, we have prepared a letter to individual who may be affected. The letter can be accessed here and will be mailed to all those affected.
As stated in the letter, members who received a tax slip from the Monitor with respect to payments (also known as “distributions”) it made in 2018 under the Wabush Mines CCAA Plan of Compromise may have incorrectly reported some of those payments as being taxable.
The Monitor has told us that it is in contact with the Canada Revenue Agency and Revenu Québec about this issue and that they are working to resolve the tax slip issue. They will be sending a letter to former employees and retirees providing further instructions as may be necessary.
If you have not already completed your income tax return for 2018, we suggest you wait completing your taxes until you have received the correspondence from the Monitor which is expected in mid-April, 2019.
If you have already filed your taxes, the Monitor’s correspondence will contain instructions from Canada Revenue Agency and Revenu Québec as to how to amend your tax return, if necessary.