IRS refund question, can anyone help?
My tax return was accepted at 1041 am on January 17. The original date I got from WMR was January 31, 2012....but the projected one on the IRS refund chart is January 25. Then I checked WMR today and it said January 24, one day before the first date on the refund chart. Anyone know what to believe?? Can anyone help?
This is the message I got as of 5 minutes ago:
You requested the direct deposit of your refund into more than one bank account.
Your tax refund is scheduled to be direct deposited to those accounts on January 24, 2012. If your deposits are not credited to your accounts by January 29, 2012, check with your bank to find out if they have been received. Please wait until January 29, 2012 before you contact us again because we are unable to take any action until then.
- 8 years agoFavorite Answer
The IRS chart says January 25, and I have always found their chart to be very accurate in the past. Where's My Refund initially updates with a BY date (that does not mean ON) that includes a window of time so they are not overwhelmed by calls from impatient taxpayers awaiting their refunds,and then closer to the date the funds are to be released it updates with the actual date.
I am not sure why it is giving you a date of the 24th, but I have seen others mention that so you may get it a day early. Or, rather, the IRS may release the funds a day early. Please note that it could be a day (or several) before the funds are available in your account, depending on the policies of your banking institution. As well, if you opted to have any funds withheld from your refund instead of paying them directly that could further delay receipt of your refund.
- John ScottLv 58 years ago
The IRS has changed to a system that posts transactions daily rather than weekly. However, some accounts are still processed weekly. Here are some issues that would make it a weekly account:
1. An ITIN rather than a SSN
2. Foreign Address
3. Campus Address
4. Identity Theft Indicators
5. Prisoner File
6. Related MFT 31 Account (i.e, a joint account has been split due to bankruptcy, Offer-In-Compromise, Installment Agreements for only one party, Innocent Spouse)
7. Criminal Investigation Activity
8. Civil Penalty Account (MFT 55)
9. Tax Module History (two years prior) with Criminal Investigation, Exam or Collection Activity.
A direct deposit should be issued four business days after the tax return posts. Here are examples for a daily account:
Return is accepted on the 17th and posts on the 18th. The DD would be 4 business days later on the 24th.
Return is accepted on the 18th and posts on the 19th. The DD would be 4 business days later on the 25th.
Return is accepted on the 19th and posts on the 20th. The DD would be 4 business days later on the 26th.
The refund cycle chart is based on weekly processing. Here are some examples for accounts subject to weekly processing:
Return is accepted between 11 a,m. on the 18th and 11 a.m on the 25th. It is held for posting until the 26th. DD would be 4 business days later on the 1st.
- 8 years ago
That's the recording that you get once the IRS had made a deposit to your bank. That's why some people who have netspend are getting their refunds today. You are ok i'm 100% sure that you will have your money by the 24 as it says.Source(s): personal experience
- 8 years ago
My aunt and cousin got accepted through taxact on the 13th. On Wed. their WMR gave an estimated refund by the 31st. This morning it updated to DD date of the 24th.Shortly after that,they got a text from netsoend saying their refund was depisited and available.Netspend doesnt hold any funds. They release them as soon as their bank recieves them. I always recieve my my workpay 3dats sooner...but unfortunately my very own wmr hasnt even updated yet. So im wondering if the irs are sending out refunds anyday of the week. Rachel that posted under my recent question from my other page got hers today too...Good luck n ...God bless
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- 8 years ago
As far as I know it is January 25th.
- 8 years ago
mine as also changed to the 24th