Why does Where's My Refund say "approved" but TurboTax still says "accepted"?

Accepted is the status of your tax return—not your tax refund.

Once your return has been accepted (received) by the government, they will update the refund status, as they control the money. The status in TurboTax will remain as accepted.

Use the IRS Where's My Refund? site for the latest word on your federal tax refund and your state government's refund lookup service for the latest on your state refund.