PATH Act & “5 Days Early”

[souderdave21]

They have had our money for about a week and a half!?

[Daytona63]

It tells you straight up “IF” they receive notice within five days. If they don’t receive notice within five days they refund you. There’s nothing scam about that. 

[souderdave21]

They have known for over a week...they always do for Everyone!!!!! 

see how status has been approved and hold lifted 9 days ago. I took this pic yesterday.....they're getting interest off every one of us and because honoring for some and acting like they tried they're best for most of us gonna try and claim bs variables that don't exist in federal government....

[souderdave21]

Go to this website and Upload your tax transcripts see for yourself https://taxr.ai/

[LylahLevisMommy1996]

You know what is a scam. Them saying they deposited your refund and it failed yet your bank says no attempted deposits were done. Now i got to wait for a check. 

[Camtx18]

Actually, if you notice on WMR, it says,”your refund is scheduled to be sent to your bank BY ….”. From what I remember in the past, that’s the last date that the refund is supposed to hit by. Not when the IRS deposits the refund. I also know that there is a part that says if your refund doesn’t credit to your bank almost a month later to contact them. That’s excessive time frame mentioned because the NACHA guidelines - for ACH transactions state that the financial institution has to make funds available by the second business day after they were sent. 

The biggest issue I have with TT, and with SBTPG - the company TT hired to disburse refunds, is that they can send it earlier, as they are aware of a pending refund coming in from the Treasury Dept. . These don’t get returned or cancelled after sent. But because they chose not to recognize this for people who didn’t pay for the early deposit there is an even further delay in the time it takes for customers to receive their funds. Typically banks will release deposits early once they are aware of incoming transfers like this but because TT picked a company that literally waits till the last minute possible to send funds and then they allow them to send the disbursements  the slowest way possible, it makes their customers wait even longer, especially with FEDNOW , RTP, and same day ACH transactions being more and more popular… but no… let’s use the longest possible way ever to release and disburse funds so we can trick people into paying for their refunds to be made available 5 days earlier even though most banks would release these deposits for free at the same time 

[Happysplace07]

It doesn't make any sense to me. While reading it states it updates on Saturday over the weekend. To me that's not right. Then mine has a 203 and I don't owe anything. Only thing I know is the turbo tax being taken out if taxes. I looked it up says turbotax fees don't fall under the 203. Is that one way for those of us who filed early with EIC & CTC get these codes have ours processed.  Then hold ours with these codes to process.  the other ones. I know a few people who did there's a couple weeks later. They have both refunds already. 

[Takelab83]

Wow! Thank for this clarity. As of 2/24 at 8:10am EST;I am still waiting for my deposit. But you really shed light on how it works. Thanks 

[Takelab83]

I read somewhere that "collecting interest" is exactly what's happening. But my question is who is patching the interest? 

[Takelab83]

Nope. As of today 2/24 at 8:12 am EST; I am still waiting for a deposit.

[nmsmith18]

At this point it’s not even 2 days early (irs website says 2/26) this is annoying never in the past have I had this issue. Usually I would have woken up to my money in my account today or late last night. 

[Takelab83]

Right. I have NEVER had this much confusion with a deposit date. It's always been 2-3 days early. I looked up Cross River banking times and with them being brick and mortar they don't open until 9am EST, Let's see what happens shortly. 

[souderdave21]

If your 5 days early got rejected apparently not going thru cross river.....was told just a min ago from tt agent that it's coming directly from Irs which Doesn't make sense.Because fees are being taken out of mine for processing. So obviously i'm being lied to by turbo text

[Takelab83]

No lie I called about that. And of customer service is saying it's a processing fee. I'll br following up on it because you are absolutely right. There was no "middle man" moving the money so what is the "money movement fee"?

[Ksmith2124]

I spoke with the IRS this morning they said that the funds are due to deposit today turbo has to take there funds and then the money will go to my bank account then spoke with turbo tax and they told me that my funds still have no been released from the irs it is pending availability DDD WAS TODSY 2/24