Below are the answers to your questions and an info graphic about the IRS update cycle. When do the WMR and transcripts update?
Anyday, anytime. But, there are 4 days that are “mass” updates.
What is a mass update?
It is a day when a lot of Transcripts or the WMR is updated.
When are mass updates?
For daily accounts, there are 4 days per week that you can expect mass updates. Some are mass updates for Transcripts and others are mass updates for WMR. For weekly accounts, there are 2 days per week that you can expect mass updates.
What is “Weekly” or “Daily”?
Your IRS Account is identified as either being updated weekly or daily. Cycle codes ending in 01, 02, 03, 04 are daily accounts. Cycle codes ending in 05 are weekly accounts, but in some cases, they may be daily.
Why does it matter?
It doesn’t really. However, people use it to check what day they should expect updates on Transcripts or WMR.
How do I know if I am a Weekly or Daily?
Look at the last 2 digits of your Cycle Code? If it ends in 01, 02, 03, 04 transactions post to our IMF account daily except weekends. If it ends in 05, you could be weekly or daily. For weekly accounts, transactions are posted to the IMF account only once weekly.
What is a Cycle Code?
It is an 8 digit sequence of numbers such as 20200405.
What does a Cycle Code mean?
It indicates when your account posts to the master file. It is NOT a calendar date, but can be translated to a date.
Where is my Cycle Code?
Your cycle code can be found on your “Account Transcript”.
How do I translate my Cycle Code?
Use an IRS Posting Calendar. Or make it easy and look at the IGMR IRS Cycle Chart. Check out the 2020 IRS Cycle Code and What Posting Cycles Dates Mean.
Why do I need my cycle code?
You really don’t. But, you can use the last 2 digits of your cycle code to see if your account is Weekly or Daily.
What do the last 2 digits of the cycle code mean?
Cycle Code Ending in 01= Friday
Cycle Code Ending in 02= Monday
Cycle Code Ending in 03= Tuesday
Cycle Code Ending in 04= Wednesday
Cycle Code Ending in 05= Thursday
When do Daily Accounts update?
When do Weekly Accounts update?
What day do Transcripts update?
Transcripts can update any day of the week. However, mass updates on daily accounts are usually Tuesday; and mass updates on weekly accounts are usually Friday.
What day does the WMR update?
The WMR can update any day of the week. However, mass updates on daily account are usually Wednesday; and mass updates on weekly accounts are usually Saturday.
What time are updates?
The WMR and Transcripts can update anytime throughout the day. However, mass updates occur overnight between midnight and 3 am.
It sucks that we have to literally turn into a **bleep** detective just to figure out when we will get back our own money! Every says something different so Idk anymore. I will base my conclusion on past experiences with IRS... Just so unfair that they can take a day to withdraw money if we owe them... yet when roles reversed it will take a **bleep** eternity to get money from IRS....UGH!!!!
Quick question, Everyone: I scrolled back through to see if it was mentioned already, but is anyone having an issue with the SBTPG website? I’m getting the message that my account can’t be found.
*Edited to say that I had to use a Private/Incognito window and that worked.
I know a bunch of people got their money yesterday in the Facebook group. Almost all of them started around 5pm est . So that's when I'd start checking SBTPG both tonight ,tomorrow ,and Saturday .
I've had to stop the temptation of checking it all day, I know it's not going to update.
And yes the SBTPG goes wonky a lot, get errors all the time, suddenly can't find accounts ,having to go icognito or use certain browsers for it to work ,at this point I trust it about as much as WMR. Lol