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yita726
New Member

When im going to receive my money

 
3 Replies
DoninGA
Level 15

When im going to receive my money

You will have to wait for the IRS to start accepting or rejecting 2020 tax returns on February 12, 2021

 

After completing the File section and e-filing your tax return you will receive two emails from TurboTax. The first email when your tax return was transmitted and the second email when the tax return has either been accepted or rejected.

 

Note - Once a tax return has been Accepted by the IRS or a State, TurboTax receives no further information concerning the tax return or the status of any tax refund.  

 

If accepted by the IRS use the federal tax refund website to check the refund status - https://www.irs.gov/refunds

 

After the tax return has been Accepted by the IRS (meaning only that they received the return) it will be in the Processing mode until the tax refund has been Approved and then an Issue Date will be available on the IRS website.
See this IRS website for federal tax refund FAQ's - https://www.irs.gov/refunds/tax-season-refund-frequently-asked-questions

xmasbaby0
Level 15

When im going to receive my money

 

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:   

https://www.irs.gov/refunds

To track your state refund:    

https://ttlc.intuit.com/questions/1899433-how-do-i-track-my-state-refund

 

https://ttlc.intuit.com/questions/1901548-why-do-some-refunds-take-longer-than-others

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.

https://www.irs.gov/refunds/tax-season-refund-frequently-asked-questions

https://ttlc.intuit.com/questions/2840013-does-accepted-mean-my-refund-is-approved

https://ttlc.intuit.com/questions/2724106-my-return-is-accepted-but-still-not-approved-is-there-a-pr...

 

 

https://ttlc.intuit.com/questions/3397970-path-act-delayed-refunds-for-some-filers

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
SweetieJean
Level 15

When im going to receive my money

Are you asking about your Federal refund?  

  • February 12. IRS begins 2021 tax season. Individual tax returns begin being accepted and processing begins.
     February 22. Projected date for the IRS.gov Where's My Refund tool being updated for those claiming EITC and ACTC, also referred to as PATH Act returns.
     First week of March. Tax refunds begin reaching those claiming EITC and ACTC (PATH Act returns) for those who file electronically with direct deposit and there are no issues with their tax returns.

2021 tax filing season begins Feb. 12; IRS outlines steps to speed refunds during pandemic | Interna...

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