Waiver in certain cases
(A) In general
(A)In general#
No addition to tax shall be imposed under subsection (a) with respect to any underpayment to the extent the Secretary determines that by reason of casualty, disaster, or other unusual circumstances the imposition of such addition to tax would be against equity and good conscience.
(B)Newly retired or disabled individuals#
No addition to tax shall be imposed under subsection (a) with respect to any underpayment if the Secretary determines that—
(i) the taxpayer— (I) retired after having attained age 62, or (II) became disabled,
in the taxable year for which estimated payments were required to be made or in the taxable year preceding such taxable year, and
(ii) such underpayment was due to reasonable cause and not to willful neglect.
(B)(i)#
the taxpayer—
(I) retired after having attained age 62, or
(II) became disabled,
(B)(i)(I)#
retired after having attained age 62, or
(B)(i)(II)#
became disabled,