The IRS does not start processing returns until the 27th of January. Once your return is completed and you hit file, TurboTax stores a copy of the return and once the IRS opens up their processing the return is sent in the order in which it was received.
Once it is sent to the IRS and your state you will get notified when it is processed and accepted.
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The IRS will not start accepting tax returns until January 27. TurboTax will just hold your tax return until then. You should get your acceptance (or rejection) within a day or two after the 27th. There is a big crush of held tax returns on the first day, so it could take a little longer than normal.