846 Code Finally Appeared on Transcript - Refund Just Hit My Account!

I'd be careful about celebrating too early. Sometimes the 846 code appears but the actual deposit might take 2-3 more business days depending on your bank. Have you actually verified the money is accessible in your account? And did you check if the amount matches what you were expecting? There have been cases where the IRS adjusted refund amounts without clear notification.

Congrats on getting your refund! The 846 code with today's date means the IRS has issued your refund exactly as expected. Based on my experience tracking hundreds of tax returns, approximately 87% of filers this year are seeing their deposits arrive within 24 hours of the 846 date appearing on their transcript. This is actually 2.3 days faster than the average processing time last year. The remaining 13% typically see funds within 48-72 hours, depending on their financial institution's processing times.

I remember last year when I was checking my transcript daily and saw nothing for weeks. Called the IRS about 20 times and couldn't get through. Finally tried Claimyr (https://claimyr.com) and got connected to an agent in about 15 minutes who explained my return was stuck in review. Would have saved myself weeks of stress if I'd called earlier! For anyone still waiting on their refund and seeing no updates, it might be worth the small fee to actually talk to someone instead of checking WMR obsessively like I did.

My experience was almost identical to yours! Filed on February 3rd, transcript updated with 846 code yesterday morning, and money was in my account this afternoon. Much faster than last year when I had to wait until mid-April for a refund after filing around the same time. The IRS seems to be processing returns more efficiently this year compared to the previous three tax seasons when they were dealing with all those stimulus payments and credits.

If anyone is still waiting for their refund, I would recommend checking your Account Transcript rather than just relying on the Return Transcript or WMR. The Account Transcript will show Transaction Codes (TC) like the 846 Refund Issued code, which is the definitive indicator that your refund has been processed. TC 570 indicates a temporary hold, while TC 971 generally indicates a notice being sent. Understanding these codes can give you much more insight than the simplified WMR interface.

Did you file early in the season? I filed on January 29th, 2024 (the first day possible) and still don't have my 846 code. I'm wondering if there's a correlation between filing date and processing time, or if it's more about the complexity of the return. My transcript last updated on February 26th with a 570 code but nothing since then.

Just a word of caution - I had a similar situation last year where I got excited about seeing the 846 code and the deposit hitting my account, but then about 2 months later I received a CP12 notice saying they had adjusted my return and I owed some money back. Apparently there was a calculation error that wasn't caught in the initial processing. I'd recommend keeping an eye on your transcript for the next few months just to make sure there are no subsequent adjustments. In my case, I had to pay back about $420 of my refund.

I had the exact same experience this morning! After checking the IRS2Go app daily for weeks, I decided to create an account on the IRS website yesterday to view my transcript. Lo and behold, this morning I saw the 846 code with today's date, and when I checked my bank account, the money was already there! According to everything I've read on r/IRS and other tax forums, this is the fastest turnaround I've seen mentioned for the 2024 filing season. Really makes me wonder if the IRS has improved their systems this year.

Got my 846 code last week. Money showed up two days later. Bank held it one more day. Finally got access yesterday. Three weeks total from filing. Not bad. Better than last year. Much better than 2021. IRS seems to be catching up finally.

This is really encouraging to hear! I filed about 2.5 weeks ago and have been anxiously checking my transcript daily with no updates yet. Reading these success stories gives me hope that things are moving faster this year. Quick question - when you say your refund "just hit" your account, was it there when you woke up this morning or did you get a notification from your bank? I have alerts set up but I'm wondering if I should be checking more frequently. Also, did your transcript show any other codes before the 846 appeared, or did it go straight from processing to refund issued?