PATH Act & “5 Days Early”

[CatinaT1]

You should get an email from TurboTax when your refund is on its way. If you don't receive your refund by the end of today, you will get a follow-up email from TurboTax telling you why they weren't able to deposit your funds on time, and you will get a refund of the $25 fee if you were charged.

For more information click on the link below

5 Days Early Option

[Crystalbub23]

My real question is I was told they don’t have access to wmr because why are they putting are info in to a website that’s not there’s….that part makes no sense to me so there has to be something else to it I mean one way are another I’m getting it the 24th so I don’t care but none of this makes sense

[Cam812]

I don't think Turbo tax goes off of WMR. My acceptance was 1.27.25 and I got immediate updates. The IRS2GO app was still saying that I need to check back later if I remember correctly. 

I think we'll have to wait and see but I feel good at least knowing I will have it by Monday (MY DD is 2.24)

[Crystalbub23]

See this is what I’m saying. it makes no sense. You’re telling me that TurboTax is logging in to where’s my refund with how many people’s information punching in personal information that doesn’t belong to someone to see a date. I don’t buy it. There has to be something set up that they find the date out idk makes no sense with the we look at wmr site bs

[Cam812]

Just searched "How does TurboTax get updates about our refunds" and got this from TurboTax's site 

"TurboTax does not receive any updates from the IRS. Your ONLY source of information about your refund now is the IRS."

It seems that all we have to go off of is the 846 on the Transcript. If the refunds post, we'll know before they tell us. 

[EsmeW86]

They find out the date when they receive the funds as it will have a settlement date (2/24 in this example).

Based on this they send it along to your bank for same day processing.

[EsmeW86]

They DO send it 5 days early, that's why no holds banks will start dispersing refunds that were set for 2/24 any time now. 

Turbotax (well Cross Rivers bank apparently)will use the settlement date (2/24) on those payments to determine if they met the Five Day Early requirements. 

[Shaye2t]

Makes no sense whatsoever. Turbo tax cannot see peoples “Where’s my refund” on the IRS page. Come on!!! They go off of when the IRS releases the funds off of TRANSCRIPTS WITH 846 deposits!!!! Turbo tax doesn’t go and look at each and every one of where’s my refund lol!!!!! Not even legal! 

[EsmeW86]

It's not late until the end of the day and WMR updates the day after transcripts update. 

[EsmeW86]

5 days early is today, the IRS didn't even approve payments until last night. 

[Cholwager]

So it's not based on WMR tool like everyone is suggesting. It is based off of the IRS pay instructions. Just like your work give pay instructions to your bank. A deposit comes into your bank along with the instructions like "this deposit is to be made on 2/24 at opening." Once your bank whoever that may be receives those instructions if you selected the 5 days early then you will receive it 5 days before the pay instruction date. It is sort of a scam in the sense that if your bank already offers 2 days ahead of time you are really only receiving it 3 days early. Or if the IRS does send out pay instructions just deposits and they are on top of it you may have already received it early anyways. Now if you don't receive it 5 days early you are supposed to get the $25 back if you paid that. If you get it deposited to credit karma you didn't have to pay the $25 to have the 5 days early option. I have never had WMR update before on me before I actually received the check, but I have always received my tax check 2-3 days earlier than my transcripts say. But the thing about taxes you need to know, its the government running it. It has never and will never be uncomplicated and straight forward, it will always have some curve ball, delay, inefficiency to it. I wish turbo tax would stop offering all these benefits they can't 100% control because it puts some desperate people in a tough spot like this.

[Shaye2t]

This makes no sense!!! Transcripts update BEFORE WHERES MY REFUND! TURBO TAX has the date! 

[otrps]

Well, NOBODY has gotten their deposits today even with a DDD of 2/24. Looks like this was POINTLESS for TurboTax to even offer. Now we don’t even know where our money is at because they didn’t go through Santa Barbara Tax Products for it. I will not use TurboTax again.

[CristinaRios87]

[otrps]

Yeah but I’ve seen mixed answers from the Turbo reps. I don’t think they actually know, to be honest. We will see if anyone really gets anything today.