Yes, the IRS may waive certain penalties if you can show reasonable cause for the failure to comply with tax laws. Reasonable cause is based on all the facts and circumstances in your situation. Examples of reasonable cause include death or serious illness in your immediate family, unavoidable absence, or reliance on the advice of a competent tax professional. To request a penalty waiver, you’ll need to provide a detailed explanation and supporting documentation. The IRS has discretion in determining whether your reasons qualify as reasonable cause. Refer to IRC Section 6664(c) for more details on the reasonable cause exception.
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