Frivolous Return Penalty

Frivolous Return Penalty means:
a $500 penalty imposed on an individual who files a tax return that either does not contain information on which the substantial correctness of the self-assessment may be judged, or contains information that on its face shows that the self-assessment is incorrect, and whose conduct is due to a frivolous position or a desire to delay or impede the administration of the tax laws. Former IRC (check if this IRC provision is current here) §6702.