26 U.S.C. § 6659

1. (a)In the case of any individual who makes an election under section 6434 with respect to an individual who is not an eligible child of the taxpayer—
   1. (1)if such election was made due to negligence or disregard of the rules or regulations, there shall be imposed a penalty of $500, or
   2. (2)if such election was made due to fraud, there shall be imposed a penalty of $1,000.
2. (b)
   1. (1)The term “eligible child” has the meaning given such term under section 6434.
   2. (2)The terms “negligence” and “disregard” have the same meaning as when such terms are used in section 6662.