What is a Statement of Qualifying Retroactive when completed Lump-Sum Payment
Form T1198 or Statement of Qualifying Retroactive Lump-Sum Payment is a form that declares to the Canada Revenue Agency (CRA) that you received a lump sum and would like the CRA to complete a special tax calculation that takes into account the unusual nature of this lump-sum payment.
For more information regarding what qualifies for a Statement of Qualifying Retroactive Lump-Sum Payment click here.
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