That was only for tax year 2014. You can see if annualizing your income lowers or eliminates the penalty.
Waiver of underpayment penalties
If you have an underpayment, all or part of the penalty for that underpayment will be waived if the IRS determines that:
- In 2022 or 2023, you retired after reaching age 62 or became disabled, and your underpayment was due to reasonable cause (and not willful neglect); or
- The underpayment was due to a casualty, disaster, or other unusual circumstance, and it would be inequitable to impose the penalty. For federally declared disaster areas, see Federally declared disaster, later. Form 2210
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