26 U.S.C. § 6682

(a) Civil penalty In addition to any criminal penalty provided by law, if— (1) any individual makes a statement under section 3402 or section 3406 which results in a decrease in the amounts deducted and withheld under chapter 24, and (2) as of the time such statement was made, there was no reasonable basis for such statement, such individual shall pay a penalty of $500 for such statement. (b) Exception The Secretary may waive (in whole or in part) the penalty imposed under subsection (a) if the taxes imposed with respect to the individual under subtitle A for the taxable year are equal to or less than the sum of— (1) the credits against such taxes allowed by part IV of subchapter A of chapter 1, and (2) the payments of estimated tax which are considered payments on account of such taxes. (c) Deficiency procedures not to apply Subchapter B of chapter 63 (relating to deficiency procedures for income, estate, gift, and certain excise taxes) shall not apply in respect to the assessment or collection of any penalty imposed by subsection (a).