The IRS charges interest on penalties for late filing, late paying, and substantially underestimating the tax you owe. The interest and penalty will continue to accrue until the payment is made in full. Therefore, it is best to pay sooner rather than later to minimize the amount of penalty and interest.
Some penalty abatement can be done by calling the IRS at 1800-829-1040. You can also file Form 843 (Claim for Refund and Request for Abatement) once the payment is made in full.
See additional information in the link below:
Click on Form 843
Form 843
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