A lot of folks are not aware that you don’t necessarily have to pay penalties just because the IRS sent you a bill for them. There are policies and procedures in place at the IRS which make it possible to waive some of these penalties. Unfortunately, the IRS rarely informs you of this fact and even when they do, it is buried in a lot of fine print. Here is an article about this in layman’s terms.
First Time Abate — Ignorance is Bliss, Even in Penalty Relief