"waiving penalties" is a grammatically correct phrase and can be used in written English.
You can use it when discussing a situation where penalties are being removed or pardoned. For example: The company announced that they will be waiving penalties for late payments for the next month. The government is considering waiving penalties for businesses that were negatively affected by the pandemic. The landlord agreed to waive the late fee penalty as a gesture of goodwill. In all of these examples, "waiving penalties" is used to describe the act of forgiving or removing a punishment or consequence.
HURRICANE WAIVERS -- Because of Hurricane Dennis, most domestic airlines are waiving penalties for changing flights to and from most airports in Florida.
FORGIVING SCOFFLAWS -- More than a dozen states, including Massachusetts, Michigan, Virginia, Illinois and New York, instituted tax amnesty programs over the last two years, waiving penalties and interest for those who pay their back taxes.
You can avoid penalties if you had "reasonable cause" for not filing FBARs, but the grounds for waiving penalties aren't terribly clear.
In 1998 Congress Joint Tax Committeeestimateded that waiving penalties and half of back interest would raise $4.2 billion in the first year, but lose $8 billion over ten years.
Generally, the airlines are waiving penalty fees, which are usually $150, for passengers who rebook after canceling a so-called nonrefundable reservation, or having one canceled.
In a letter to Congress, President Bush will "decertify" Guatemala's antidrug efforts but waive penalties because of the United States' own vital interests, the officials said.
The complaint said Mr. Beeson agreed to waive penalties for Canary that would typically have been charged for short-term trading in its funds.
The I.R.S. waived penalties for Mr. Geithner in 2006, according to an account provided by the transition office and the Senate committee.
Also on Monday, the I.R.S. said it would grant extra time for taxpayers in the Boston area, and would waive penalties, due to the disruption caused by the bombing at the Boston Marathon.
The agency has described this amount as just the tip of an iceberg and announced a program to waive penalties for companies that acknowledge using tax shelters and name the promoters.
And the fundamental question is, are we, the free world, willing to do more?" In Washington, the House approved a bill that would tighten economic sanctions on Iran by ending the administration's ability to waive penalties on foreign companies that violate federal rules by investing $20 million or more in Iran's energy industry.
