Personal Taxation Q 'n A

As a result of filing my taxes late and/or an audit, I owe a substantial amount to CRA, is there a way I can reduce this amount?
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CRA will not reduce the amount of taxes owing as a result of an audit, short of you going through the bankruptcy process. CRA will however, consider reducing any penalties and interest arising out of an examination under certain conditions through what they call Fairness Rules. The situations must either be severe financial hardship or meet the criteria of you having a severe illness, a natural disaster which prevented you from filing returns or elections on time. Each situation is considered on its own merits by the Fairness Committee at your regular Tax Services Office.