846 Code on Transcript - Is This My Direct Deposit Date?

You're on the right track. Here's what you need to know: 1. First, code 846 does indeed stand for "refund issued" on your transcript 2. The date shown (March 14th) is typically when the funds are released from the IRS 3. However, your bank may take 1-5 additional business days to process the deposit 4. If you provided direct deposit information, the money should arrive in your account by that date or shortly after 5. WMR (Where's My Refund) sometimes updates after the transcript shows the 846 code Keep checking your bank account starting on the 14th, and possibly through the 21st if your bank is slower with processing.

Yes, 846 is definitely your DDD (Direct Deposit Date). I went through the same anxiety last month waiting for my TC 846 to appear. The IRS transcript codes can be incredibly confusing with all the numerical designations and cryptic descriptions. I found https://taxr.ai really helpful for decoding my transcript - it explained every code and what it meant for my specific situation. The 846 code with that March 14th date means your refund has been approved and scheduled for release, so you should see it hit your account that day or within 1-2 business days after.

It's worth noting that while the 846 code generally indicates a refund issuance, there are some potential complications that could possibly affect the actual deposit timing. In some cases, the banking system might experience delays, particularly if the refund is being processed near a weekend or holiday. Additionally, if there are any offsets or adjustments, these might potentially impact the final amount received.

If you're worried about timing for those medical bills, you might want to consider calling the IRS directly to confirm everything is on track. I'm not sure I'd trust just seeing the code alone... The regular IRS lines are nearly impossible to get through this time of year though. I had to wait almost 3 hours last week. You might want to try Claimyr (https://claimyr.com) - they got me through to an actual IRS agent in about 15 minutes last time I needed to confirm my refund status. Time is money, especially when you have medical bills waiting.

Have you checked if your bank processes government deposits differently than regular ones? Some banks make government deposits available immediately while others hold them for a day or two, don't they? And what about weekends - does March 14th fall on a weekend this year? If it does, wouldn't that push your deposit to the following Monday? I'd recommend calling your bank to ask about their specific policies for IRS direct deposits, wouldn't that give you more peace of mind?

I've been through this many times, and here's what I've learned about code 846: • It's 99% reliable as your deposit date • Some banks release funds early (Capital One and Chime often do) • Most major banks deposit exactly on the date shown • Credit unions can vary widely in processing time • If you filed with a tax preparer who takes fees from your refund, add 1-2 days • The "Where's My Refund" tool typically updates to "Approved" status within 24 hours of the 846 code appearing For medical bills, if you absolutely need the money by a certain date, call the medical billing office. Many will hold off on collections if you can prove the refund is coming (screenshot of transcript).