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.
(i)#
the taxpayer—
(I) retired after having attained age 62, or
(II) became disabled,
(i)(I)#
retired after having attained age 62, or
(i)(II)#
became disabled,
(ii)#
such underpayment was due to reasonable cause and not to willful neglect.