The 28-year-old was given a $175,000 (£106,383) fine by the International Tennis Federation after its grand slam committee next week.
If she commits any other 'major offences' between now and the end of 2011 the 11-time grand slam winner will see a three-year ban activated.
But the fine will be halved if no such offences occur.
Williams was 15-30 down in the second set of her US Open quarter-final with Kim Clijsters at 6-4, 6-5 when the offence in question took place.
After becoming angry at being given a foot fault she angrily remonstrated with the female line judge, swearing several times and using threatening language.
The umpire later issued a point penalty for her behaviour, which coupled with the foot fault, saw Clijsters progress to the semis.
Although Williams initially refused to say sorry she later said she wanted to 'sincerely apologise' for her actions.
'I need to make it clear to all young people that I handled myself inappropriately,' she said.
'It's not the way to act - win or lose, good call or bad call in any sport, in any manner.'
If she commits any other 'major offences' between now and the end of 2011 the 11-time grand slam winner will see a three-year ban activated.
But the fine will be halved if no such offences occur.
Williams was 15-30 down in the second set of her US Open quarter-final with Kim Clijsters at 6-4, 6-5 when the offence in question took place.
After becoming angry at being given a foot fault she angrily remonstrated with the female line judge, swearing several times and using threatening language.
The umpire later issued a point penalty for her behaviour, which coupled with the foot fault, saw Clijsters progress to the semis.
Although Williams initially refused to say sorry she later said she wanted to 'sincerely apologise' for her actions.
'I need to make it clear to all young people that I handled myself inappropriately,' she said.
'It's not the way to act - win or lose, good call or bad call in any sport, in any manner.'
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