Newly retired or disabled individuals.
(2) Newly retired or disabled individuals. No addition to tax will be imposed under section 685(c) of the Tax Law (see section 185.3 of this Part), with respect to any underpayment, if the Department of Taxation and Finance determines that in the taxable year for which estimated payments were required to be made, in order to avoid the addition to tax referred to in section 185.3 of this Part, or in the taxable year preceding such taxable year:
(i)the taxpayer retired after having attained age 62 or became disabled; and#
(i) the taxpayer retired after having attained age 62 or became disabled; and
(ii)such underpayment was due to reasonable cause and not to willful neglect.#
(ii) such underpayment was due to reasonable cause and not to willful neglect.