Code 542: correction of 540 processed in error.
From IRS Document 6209, the IRS's processing codes manual.
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Document 6209 says
Used on individual (IMF) accounts.
Correction of 540 Processed in Error
The full Document 6209 entry, as printed
I Correction of 540 Processed in Error 77 Indicates the previously posted 540 was in error. FR is changed to “4” (IMF).
After code 542
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Questions people ask
What does code 542 mean on my IRS transcript?
Document 6209 calls it "Correction of 540 Processed in Error".
Sources
Checked against these sources on October 30, 2026.