What time does the tax refund direct deposit hit?
If you chose to direct deposit your refund and you e-filed your return, the official IRS statement is, "Nine out of ten taxpayers typically receive refunds in less than 21 days when they use e-file with direct deposit."
If you file a complete and accurate paper tax return, your refund should be issued in about six to eight weeks from the date IRS receives your return. If you file your return electronically, your refund should be issued in less than three weeks, even faster when you choose direct deposit.
More than 90 percent of tax refunds are issued by the IRS in less than 21 days, according to the IRS. However, the exact timing of receiving your refund depends on a range of factors, and in some cases, the process may take longer.
The deposits for direct deposit of refunds are done overnight on Thursday nights so they appear in the bank account on Friday, according to the IRS timetable. The deposits are made one time each week, not every day. It depends on the bank, but generally you can see the deposit in your bank account on Friday morning.
Refund Sent
This means you won't get an estimated refund date right away. Updates to refund status are made once a day — usually at night.
Direct deposit to bank account: Direct deposit is when your tax refund is deposited into your bank account. This is the quickest refund method, and you might receive your refund within one to three weeks, depending on your filing method.
Good to go, the rep stated that “we are told to say 4 weeks, but it should be direct deposited within 1 to 2 weeks.
Day of the week for IRS refund deposits
The IRS typically processes tax refunds and executes direct deposit transactions within 21 days after accepting your tax return. It's common for the IRS to issue them on business days, from Monday through Friday.
Usually, it takes 4-5 weeks for the refund to be credited to the account of the taxpayer.
Electronically filed original returns are generally processed within 21 days. We're currently processing paper returns received during the months below.
What time does direct deposit hit?
What time of day does direct deposit hit? Usually, you'll have access to your direct deposit at the opening of business on your payday — by 9 a.m. In many cases, direct deposits hit accounts even earlier, often between midnight and 6 a.m. on payday morning.
Depending on the issuing bank or credit card company, it can take an average of 1-7 business days for these funds to show in their account, based on the issuer's settlement process. Credit card accounts typically take longer to display refunded transactions than debit card accounts.
| If the IRS accepts your return by: | Direct deposit could be sent as early as: | Or your check could be mailed as early as: |
|---|---|---|
| March 25 | April 15 | April 22 |
| April 1 | April 22 | April 29 |
| April 8 | April 29 | May 6 |
| April 15 | May 6 | May 13 |
If a taxpayer receives the status update that their tax return was accepted but not approved, this means that the IRS has received their tax return, but they have not yet evaluated the information. Therefore, the taxpayer must wait to see if more action is required.
| Accepted IRS eFiled Return Date: | Estimated Direct Deposit Receival Date: | Estimated Paper Check Receival Date: |
|---|---|---|
| March 25, 2024 | April 15, 2024 | May 6, 2024 |
| April 1, 2024 | April 22, 2024 | May 13, 2024 |
| April 8, 2024 | April 29, 2024 | May 20, 2024 |
| April 15, 2024 | May 6, 2024 | May 27, 2024 |
What happens after I successfully verify? We'll process your tax return. It may take up to 9 weeks to receive your refund or credit any overpayment to your account. However, if we find other problems, we'll contact you again and this may delay your refund.
This would depend on your bank. Some banks post deposits at midnight, others do not post deposits until the bank is open. Also depending on your bank, it can be 1-5 days processing time from when the IRS or state states the refund has been sent.
Most refunds will be issued in less than 21 days. You can start checking the status of your refund within 24 hours after you have e-filed your return. Refund information is updated on the IRS website once a day, overnight. Remember, the fastest way to get your refund is to e-file and choose direct deposit.
The IRS updates the tool once a day, usually overnight, so there's no need to check more often. Calling the IRS won't speed up a tax refund. The information available on Where's My Refund? is the same information available to IRS phone assistors.
The majority of taxpayers who choose this option will receive their refunds within 21 days. That means your bank will have your refund within three weeks from the day the IRS accepts your tax return. Then it may take up to a few additional days for your bank to make the funds available to you.
Do banks release tax refunds early?
A lot of the major banking companies will not release the funds early. You will see it pending in your recent transactions but it will show the date that it will be available which will match what the IRS said your deposit date would be.
When to expect your refund. To process your refund, it usually takes: Up to 21 days for an e-filed return. 4 weeks or more for amended returns and returns sent by mail.
The IRS issues most refunds in fewer than 21 days for taxpayers who file electronically and choose direct deposit. However, some returns have errors or need more review and may take longer to process.
Usually, the IRS pays refunds a day before the weekend if the payment date falls on a weekend. But there are some cases in which the payment is done on the very day after the weekend passed, assuming it is not a holiday. In those cases, the payments won't appear until the next business day arrives.
TurboTax gives you an estimated date for receiving your refund based on a 21 day average from your date of acceptance, but it can take longer. “21 days” is not a promise from TurboTax or the IRS. Once your federal return has been accepted by the IRS, only the IRS has any control.
