IRS code 240: Miscellaneous civil penalty
Quick answerA penalty other than the usual late-filing or late-payment penalties was charged — for example an information-return penalty or a shared-responsibility payment.
Transcript code240
MeaningMiscellaneous civil penalty
Action needed?Yes — see steps
What happens next
A notice explaining the penalty (often CP215 for businesses) normally follows.
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What you should do
- Read the notice to see which penalty it is
- Request abatement if you had reasonable cause
Frequently asked questions
What does IRS code 240 mean?
A penalty other than the usual late-filing or late-payment penalties was charged — for example an information-return penalty or a shared-responsibility payment.
What should I do?
Read the notice to see which penalty it is Request abatement if you had reasonable cause
How long does it take?
A notice explaining the penalty (often CP215 for businesses) normally follows.
Sources
- IRS: Understanding your IRS notice or letter
- IRS: Get Transcript
- Taxpayer Advocate Service (independent help inside the IRS)
Written by the editorial team and checked against the official sources above. See our editorial policy.
By the TranscriptCodes Editorial Team · Last reviewed 2026-11-12.