Pay Attention When Paying Your Taxes Online Through Your Bank

Over the last few months many of us have had to change the way we do things as a side effect of the current COVID-19 pandemic. Included in these changes is the way we pay our income taxes: as many of us have switched to online payments instead or writing cheques or going to the bank, to pay our instalments or balance of taxes for the year. Recently, we noticed that some of our clients have inadvertently paid their past year income tax balance due on their instalment accounts. Many individuals have instalments due on December 15. In order to avoid future misapplication of online payments, we have prepared a list of payment payee options for most Canadian banks for both the Federal and Quebec governments. In general, most banks provide 3 options as follows:
  1. Payment for an amount owing on your account (generally prior year income tax assessments).
  2. Payment for an amount owing related to a past return (generally balances owing regarding the current year tax return, currently indicated as 20XX on all the banks payee list).
  3. Tax instalment payments.
  4. Payment code – Some financial institutions have a fourth Revenue Quebec option. This code can be found on your statement of account or notice of assessment. When used, this option will apply the amount paid towards the specific balance due.

Below is a list of popular financial institutions and the payment options (as is) they use for both the Federal and Quebec Governments. The first column explains what the options mean, and second and third columns will show the actual wording used by each specific financial institution on their respective website. Simply click on your financial institution below to know which option to select, when paying amounts to the Federal and Quebec Governments.
Payment Options  
 CRARevenu Quebec
Payment for an amount owing on your accountCRA Revenue Tax Amount OwingRevenu Quebec Income Tax 20XX-20XX
Payment for an amount owing related to your current tax returnCRA Revenue 20XX (current) Tax ReturnRevenu Quebec Impot/Income Tax 20XX (current)
Tax instalment paymentCRA Revenue Tax InstalmentRevenu Quebec Acomptes Prov/Instalment Payments 20XX
Payment Options  
 CRARevenu Quebec
Payment for an amount owing on your accountCRA REVENUE TAX AMOUNT OWINGMRQ – AVIS RECOUVREMENT – PART
Payment for an amount owing related to your 20XX-20XX (past) tax returns (Revenue Quebec only)MRQ – IMPOT PARTICULIERS 20XX-20XX (past)
Payment for an amount owing related to your current tax returnCRA REVENUE 20XX (current) TAX RETURNMRQ – IMPOT PARTICULIERS 20XX (current)
Tax instalment paymentCRA REVENUE – TAX INSTALMENTMRQ – ACOMPTES PROV. 20XX
Payment Options  
 CRARevenu Quebec
Payment for an amount owing on your accountRevenue Canada (CRA) – Income tax paymentRevenu Québec – Payment code (QC)
Payment for an amount owing related to your 20XX-20XX (past) tax returns (Revenue Quebec only)Revenu Québec – Income tax payment (QC)
Payment for an amount owing related to your current tax returnRevenue Canada (CRA) – Income tax paymentRevenu Québec – Income tax payment (QC)
Tax instalment paymentRevenue Canada (CRA) – Installment paymentRevenu Québec – Installment Payment (QC)
Payment Options  
 CRARevenu Quebec
Payment for an amount owing on your accountCRA (REVENUE) – TAX AMOUNT OWINGREVENU QUEBEC – PAYMENT CODE
Payment for an amount owing related to your 20XX-20XX (past) tax returns (Revenue Quebec only)

REVENU QUEBEC PERSONAL INCOME TAX (MRQ)
Payment for an amount owing related to your 20XX (current) tax returnCRA (REVENUE) – TAX RETURNREVENU QUEBEC – NOTICE OF ASSESSMENT – INDIVIDUAL – MRQ
Tax instalment paymentCRA (REVENUE) – TAX INSTALMENTREVENU QUEBEC – INSTALMENT PAYMENTS MRQ (TAX)
Payment Options  
 CRARevenu Quebec
Payment for an amount owing on your accountCRA (REVENUE) TAX AMOUNT OWINGREVENU QUEBEC PAYMENT CODE
Payment for an amount owing related to your current tax returnCRA (REVENUE) 20XX (current) TAX RETURNREVENU QUEBEC BALANCE DUE – 20XX (current)
Tax instalment paymentCRA (REVENUE) TAX INSTALMENTREVENU QUEBEC TAX INSTALMENT 20XX
Payment Options  
 CRARevenu Quebec
Payment for an amount owing on your accountCRA (REV) TAX AMOUNT OWINGREVENUE QC PAYMENT CODE
Payment for an amount owing related to your 20XX-20XX (past) tax returns (Revenue Quebec only)REVENUE QC – INCOME TAX 20XX-20XX (past)
Payment for an amount owing related to your current tax returnCRA (REVENUE) 20XX (current) TAX RETURNREVENUE QC – INCOME TAX 20XX (current)
Tax instalment paymentCRA (REVENUE) TAX INSTALMENTSREVENUE QC – INSTAL. PAYMENT 20XX
Payment Options  
 CRARevenu Quebec
Payment for an amount owing on your accountCra Past Tax Owed  – Arc Solde Du AnterieurRevenue Quebec – code De Paiement/payment Code
Payment for an amount owing related to your 20XX-20XX (past) tax returns (Revenue Quebec only)Mrq – impot Particuliers 20XX-20XX (past)
Payment for an amount owing related to your current tax returnCra Revenue 2020 Tax Return / arc Impots 20XX (current)Mrq – impot Particuliers 20XX (current)
Tax instalment paymentCra Tax Instalment / arc Acomptes ProvisionnelsMrq-acomptes Prov. 20XX
Payment Options  
 CRARevenu Quebec
Payment for an amount owing on your accountCRA PERSONAL INCOME TAX – AMOUNT OWING REMITTANCE VOUCHERREVENU QUEBEC – PAYMENT CODE
Payment for an amount owing related to your 20XX-20XX (past) tax returns (Revenue Quebec only)

REVENU QUEBEC – PERSONAL INCOME TAX 20XX-20XX (past) (QUEBEC RESIDENTS ONLY)
Payment for an amount owing related to your 20XX (current) tax returnCRA PERSONAL INCOME TAX – 20XX (current) TAX RETURN REMITTANCE VOUCHERREVENU QUEBEC – PERSONAL INCOME TAX 20XX (current) (QUEBEC RESIDENTS ONLY)
Tax instalment paymentCRA PERSONAL INCOME TAX – 20XX TAX INSTALMENT REMITTANCE VOUCHERREVENU QUEBEC – INSTALMENT PAYMENTS YEAR 20XX (QUEBEC RESIDENTS ONLY)

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2021-11-23

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