Typically, the IRS says that it will take three weeks to get your refund through direct deposit. However, most times it comes sooner.
The IRS will not begin accepting tax returns until 1/29/18. You can still prepare your return in TurboTax now, but you will not be able to file it until the IRS begins accepting them (it will remain securely on our server until then).
(A few returns will be processed up to a week before this date for testing purposes.)
Note: If your return is among those that the IRS processes early as part of its testing, your tax refund (if any) won't be processed until after January 29.
By law, the IRS cannot issue refunds for people claiming the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) before mid-February 2018.
- The law requires the IRS to hold the entire refund — even the portion not associated with EITC or ACTC.
The IRS expects the earliest EITC/ACTC related refunds to be available in taxpayer bank accounts or debit cards starting on Feb. 27, 2018, if direct deposit was used and there are no other issues with the tax return.
- This additional period is due to several factors, including the Presidents Day holiday and banking and financial systems needing time to process deposits.
This law change, which took effect at the beginning of 2017, helps ensure that taxpayers receive the refund they’re due by giving the IRS more time to detect and prevent fraud.
