If you have filed your taxes with Turbo Tax there is a high chance your refunds will come to you within 21 days from the day your tax return filings have been accepted by IRS. However, this process is mostly applicable to 9 out of 10 people.
Usually, it takes 24-48 hours for the IRS to accept your tax refunds.
Within 19 days from the date of acceptance is when they receive the refund however, it can also be 21 days from the date of acceptance.
What day of the week does TurboTax deposit refunds?
When checking back for the refund status, you might not have to check them regularly. Instead, you can check them occasionally. The refund status information is updated by IRS once every week and that is generally on a Wednesday.
According to the older system, the tax deposits were done every Wednesday. But now under the modern system, if you have filed for the Turbo Tax deposits, refunds can be expected any day of the week, Monday through Friday except on Saturdays, Sundays and on holidays.
Also Check:- What does it mean? IRS has accepted your Non-filers
Does TurboTax tell you when my refund is deposited?
If you have done the filing through Turbo Tax you can receive all information about your stimulus check through them. Additionally, Turbo Tax also tells people to review the IRS ‘Where’s my refund’ section. Yes, Turbo Tax would inform you whenever your refund is deposited. You can expect a mail or message from them based on your preferences when you were preparing for your taxes through the Turbo Tax software system.
Generally, it takes somewhere within 1-2 business days for your financial institution to deposit the money into your account.
Why is my TurboTax refund taking so long?
Turbo Tax refunds might take longer than the usual time for sending the refunds.
Payment delays are mainly due to a few reasons which involve delays ideally from the IRS end and mainly involves reasons given below,
- If you have back calculated your income from some previous year then IRS will process the return manually for such people.
- If you have filed for additional child tax credit.
- The information you provided for your RRC (recovery rebate credit) does not match with your IRS records.
- If the stimulus payment was not included in the returns they would have to be manually adjusted in your returns.