It's been over 48 hours since I e-filed my return. It still hasn't been accepted or rejected but a friend who filed AFTER me has already been accepted. What's going on?

This is not uncommon. Since everyone's tax situation will vary and no two returns are the same; when everyone gets approved will also vary. And you can find more details on that here Why do some refunds take longer than others?

The IRS may also be working on a backlog of returns at this time, so it can sometimes take longer than the initial 24-48 hours before you know if they have accepted or rejected your return. This generally happens around this time when e-filing first opens with them. Patience is key when dealing with the government. And the state will remain pending until the IRS accepts your federal return. 

As long as it's pending, you know that it's still on the way to them. But you will get an email when your return goes from pending status to Accepted or Rejected. 

Also, once you've been accepted, wait at least 24 hours before you use the IRS Where's My Refund? site. If you jump the gun, you may be told – incorrectly – that you never filed. And state can be tracked by going here How do I track my state refund?

Please see below for more details. 

https://ttlc.intuit.com/replies/4193097