Due to PATH Act, the IRS holds refunds for EITC/ACTC customers until March 3. You should still receive your refund 5 days early. This date is calculated based on 5 days prior to when the IRS releases your refund.
Here is more information on the 5 Day Early option: 5 Days Early
Please note: If your federal refund is deposited into your selected bank account less than 5 days before the IRS refund settlement date (the date it would have arrived if sent from the IRS directly), then you will not pay the 5 Days Early
So, that i have the correct understanding. The Path Act does not affect the 5 days early program and that i should still get my taxes 5 days sooner?
Yes, 5 day earlier than the date the IRS states on Where's My Refund.
Thank you so much. I know this question has been asked since the release of the program. Thank you for answers so fast hopefully it solves a lot of people’s questions.
LOL they DO NOT hold it until March 3rd. That is their BY DATE. They said MOST will have it BY then if they fall under PATH. That's the latest refund date provided if filing before 2/15 and everything is accurate and you chose DD.
Ok but I checked on credit karma refund tracking and it says that my federal was sent now is that true or not
If this is true then why did I get an emailfrom turbotax last week stating no refunds would be deposited till after PATH date?
Well ,now I feel like I wasted my money. Every year since path started ,I get a date on WMR and my refund hits my checking account days before the date the Irs gives. Guess, I'll wait and see ...
Hi,
I'm a little confused. I'm in a similar situation. Based on the date given, opted for fund being deposited 5 days earlier and have refund already approved, will refunds be deposited 5 days before the March 3rd date or after?
Due to PATH Act, the IRS holds refunds for EITC/ACTC customers until March 3. You should still receive your refund 5 days early. This date is calculated based on 5 days prior to when the IRS releases your refund.
Here is more information on the 5 Day Early option: 5 Days Early
Please note: If your federal refund is deposited into your selected bank account less than 5 days before the IRS refund settlement date (the date it would have arrived if sent from the IRS directly), then you will not pay the 5 Days Early
This is not true. They hold the PATH refunds until February 15th. How are you certified to do taxes and don’t know this? They absolutely do not hold them until March 3rd.
If you click on the March 3 link, it will take you to the IRS website where that is stated.
March 3rd is listed on the IRS site. It says "by March 3rd", so I'm assuming they may release it earlier?
If that date.of March 3 is true, tell me why every previous year I’ve had my deposit between Feb 20. The past 4 years. And you’re calling yourself a tax professional?
From your own link, it says BY March 3. Not that they hold funds and don’t deposit them “until” March 3. Just loud and consistently wrong.
Funds are released after February 15th when PATH ends, not March 3rd! People will start to see deposits on the 18th (small batch). Then a big batch of Deposits around the 21st- 22nd
Funds will be released after February 15th when PATH ends. As long as your refund is correct, I guarantee you will have it before March. If you have the PATH MESSAGE when you check WHERE'S MY REFUND, then you're only waiting for it to end.
So I just got the path statement on my wmr. Feb 14th. So does that mean I'll have to wait until they remove the statement before I'll get my refund?
Under the federal Protecting Americans from Tax Hikes (PATH) Act, the IRS cannot issue Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC) refunds before mid-February. Where's My Refund? should show an updated status by February 22 for most early EITC/ACTC filers.
The IRS expects most EITC/ACTC related refunds to be available in taxpayer bank accounts or on debit cards by March 3 if they chose direct deposit and there are no other issues with their tax return.
Yes it states clearly by the 3rd. However, they lift it on what was supposed to be the 17th but the 17th is president day so it will be lifted on the 18th... but by the 3rd is when most people should start receiving their money
I've had Path multiple times and they only hold the refund until mid-February. I've got it as early as the 24 without paying for 5 days early.
The 5 days early option was canceled by the IRS you will receive refund if you paid for the service
In order to deliver your refund to you early, the IRS needs to communicate your refund amount and expected refund delivery date to TurboTax, often referred to as the refund settlement date or the date you would have received the refund had you received it directly from the IRS. Unfortunately, TurboTax did not receive the information when expected, and it impacted our ability to provide the Up to 5 Days Early service to some customers. Customers who did not receive their refund up to 5 days early will receive their refund on the date they would have received it had it been sent to them directly from the IRS. The Up to 5 days Early service does not delay the delivery of the refund.
Other reasons you may not have received your refund up to 5 days early include:
Since we were unable to successfully deliver your refund early, you were not charged for the Up to 5 Days Early service and your refund will be deposited in your bank account by the date you would have received the refund had you received it directly from the IRS.