Hello! I filed taxes a couple of days ago and was just accepted today. I paid TurboTax the $25 to get my refund early and it gives me an estimated date of 2/11 for a deposit. However, I did claim the ACTC and I know that doing so causes the IRS to hold your refund due to the PATH Act. Does TurboTax take this into consideration when offering the early refund? Is there any chance that I will get it before 2/15 because I paid extra or will I just be refunded that amount? When I filed, I was under the impression that I would get it five days earlier than the date I was given but I don't even think that's possible with the PATH Act?
I guess I'm trying to just get a timeframe for when this will come because I'm a little confused now. It seems like something that TurboTax should be taking into account when offering the early refunds? Thanks in advance.
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February 15 falls on a Saturday this year so bank payments likely won't go out until the 17th. If you are seeing and estimated date of February 11, that is early by 6 days.
The program assumes that the IRS provides notification of a pending deposit 5 days before the actual deposit. You can usually see this in "where's my refund"; it might say something like "refund approved, payment expected on February 28" (just as an example). Turbotax would credit you 5 days in front of that date. But ultimately, the IRS pays whenever they pay, and Turbotax has no control over that.
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