The IRS will start processing returns on Feb 12. Until then TurboTax will hold your pending e-filed return. Overall, the IRS anticipates nine out of 10 taxpayers will receive their refund within 21 days of when they file electronically with direct deposit if there are no issues with their tax return.
Did you e-file? Did you click that big orange button that said “Transmit my returns now?” If so, your return is now in “pending” on a server. Do not try to change anything while your return is in pending.
First your e-file is going to sit on the server until Friday February 12, 2021 when the IRS begins to accept/reject 2020 returns. Watch your emails so you will know by then if your return is accepted or rejected. If accepted, they try to process it within three weeks but it can be longer. if you have earned income credit or additional child tax credit, it will be at least the end of February before you see your refund, due to the PATH act that requires that they hold your refund longer.
Once your federal return has been accepted by the IRS, only the IRS has any control. TurboTax does not receive any updates from the IRS. Your ONLY source of information about your refund now is the IRS.
You need your filing status, your Social Security number and the exact amount (line 34of your 2020 Form 1040) of your federal refund to track your Federal refund:
To track your state refund:
If you chose to have your TurboTax fees deducted from your federal refund, that will take some extra time, while the third party bank handles the refund processing.
Still have questions?Make a post