Navigating the 2025 Tax Filing Season: Challenges, Deadlines, and Tips for Success

The 2025 tax filing season has kicked off with its fair share of hurdles. From confusion over capital gains reporting to delayed or missing T-slips and the uncertainty of a looming federal election, taxpayers are facing a challenging landscape. Despite these issues, H&R Block Inc. recently confirmed in a media release that there’s “no indication” the tax filing deadline will be extended. Here’s what you need to know to stay on track, avoid penalties, and file your taxes with confidence.

A Rocky Start to Tax Season

This year, taxpayers are grappling with several obstacles:

Confusion Around Capital Gains Reporting: Recent tax-related announcements and shifts in government policy have left many Canadians uncertain about how to report capital gains accurately.
Missing or Delayed T-Slips: Numerous taxpayers have reported that their 2024 T-slips, such as T4, T3, T5, and RRSP contribution slips, are not yet available on the Canada Revenue Agency’s (CRA) online portals, including My Account and the Auto-fill my Return service.
Election Uncertainty: With a federal election on the horizon, some Canadians are assuming the tax deadline might be pushed back.

A recent survey by H&R Block revealed that 28% of Canadians are inclined to delay filing their taxes due to confusion over recent tax changes, while 22% believe the deadline will be extended because of government shifts. However, with no official word from the CRA about an extension, it’s critical to plan for the standard deadline to avoid costly penalties.

The Cost of Filing Late

Filing your taxes late can lead to significant penalties, especially if you owe money. The CRA imposes:

A 5% penalty on your balance owing, plus an additional 1% per month for up to 12 months if your return is late.
For repeat offenders who’ve been penalized for late filing in the past three years, penalties can double to 10% of the unpaid amount, plus 2% per month for up to 20 months.

To avoid these fees, aim to file your return on time, even if you can’t pay your balance in full right away. The CRA offers payment arrangements for those who need them.

Tax Filing by the Numbers

According to the CRA’s latest statistics for the 2025 tax-filing season (as of April 7, 2025):

13.7 million returns have been filed, with 95% submitted electronically.
Nearly two-thirds of processed returns resulted in a refund, with an average refund of $2,000.
Last year, 31.3 million T1 returns were filed for the 2023 tax year, meaning more than half of Canadians have yet to file for 2024.

With so many returns still outstanding, delays in accessing T-slips could slow things down further.

Why Are T-Slips Missing?

The CRA has acknowledged delays in making 2024 tax slips available online, citing a new validation process introduced in January 2025. This process aims to ensure the accuracy of data submitted by issuers like employers and financial institutions. However, it has caused some slips to be unavailable on My Account, Represent a Client, or the Auto-fill my Return service.

The CRA advises taxpayers to:

Use physical or emailed slips provided by issuers (e.g., employers or banks) to manually enter data into tax software.
Expect most outstanding slips to be available online by mid-April 2025.

When I checked my own CRA My Account on April 8, 2025, I found several slips missing, including my T4 from CIBC, multiple T3 and T5 slips, and RRSP contribution slips. The Auto-fill my Return feature, which usually simplifies the process, wasn’t an option for me this year—at least not yet.

A Workaround for Missing Slips

Rather than waiting for the CRA portal to update, I gathered my physical and emailed slips and manually entered them into my tax software. To ensure accuracy, I compared my 2024 slips to last year’s return and discovered a missing T3 slip. It turned out the slip wasn’t mailed or emailed but was posted in my brokerage account in early March 2025. This experience highlights the importance of double-checking all sources for your tax documents.

Tips for a Smooth Tax Filing Experience

To navigate this year’s challenges and file your taxes successfully, consider these tips:

Gather All Documents Early: Collect physical slips, emailed slips, and any documents posted in online accounts (e.g., brokerage or bank portals). Don’t rely solely on the CRA’s Auto-fill service.
Review Past Returns: Compare this year’s slips to last year’s to ensure you’re not missing anything.
File Electronically: Electronic filing is faster and more reliable, with 95% of Canadians choosing this method in 2025.
Double-Check Your Return: Take extra time to review your return for errors, especially with capital gains or other complex calculations.
Don’t Assume an Extension: Plan to file by the deadline to avoid penalties, as no extension has been announced.
Seek Professional Help if Needed: If you’re confused about tax changes or missing slips, a tax professional can provide clarity and ensure accuracy.

Looking Ahead

While the 2025 tax season has its challenges, staying proactive can help you avoid pitfalls. The CRA is working to resolve issues with online slips, but in the meantime, manual entry and careful review are your best tools. By filing on time and ensuring all your information is complete, you can steer clear of penalties and maybe even join the two-thirds of Canadians expecting a refund this year.

For the latest updates on tax deadlines and filing tips, visit the CRA website or consult a trusted tax professional.