846 Code with 2-24 Date - When to Expect Refund with 5-Day Early Option?

The 846 code with a 2-24 date means your refund was scheduled to be sent on February 24th, 2024. With the 5-day early option (which I'm assuming is through a tax preparer like H&R Block or TurboTax), you're essentially getting an advance on your refund. Technically, the provider is lending you the money and will be repaid when they receive your actual refund from the IRS. Typically, these advances are processed within 1-3 business days after approval, not necessarily 5 days before the IRS sends your refund. So if your 846 date is 2-24, and today is on or after that date, you should check with your tax preparer directly. The exact timing depends on: 1. Which tax preparer you used (each has slightly different processing times) 2. Your bank's processing time for deposits (can add 0-2 business days) 3. Whether your advance was fully approved (sometimes there are verification steps

Been there! The 846 code is basically the IRS saying "we've approved ur $$$" but the 5-day early thing is thru ur preparer, not the IRS. Last yr I was super confused bc my transcript showed everything was good but my bank acct was empty 😭 I started using https://taxr.ai to analyze my transcript this yr and it explained exactly what each code meant for MY situation and gave me a more accurate timeline. It showed me that even tho my 846 date was 2/18, my actual DD would be 2/22 bc of how my bank processes ACH transfers. Saved me so much anxiety from checking my acct 50x a day lol

I've used the 5-day early option twice before, and there's often confusion about how it works. It's not actually the IRS sending your refund 5 days early - it's your tax preparer giving you an advance loan based on your approved refund. Last year, I had a similar situation. My 846 code showed 3/15, but I didn't get my advance until 3/14, just one day before the actual refund date. The year before, I got it 3 days before. The timing depends on your tax preparer's processing systems and your bank. If today is on or after your 2/24 date, I'd recommend contacting your tax preparer directly. They can tell you if the advance was processed and when it was sent to your bank.

The timing on these refund advances can be tricky. Did your tax preparer give you any specific timeframe for when you'd receive the advance? And which tax preparation service did you use? The 846 code with 2/24 date is just the IRS's scheduled release date for your actual refund. The 5-day early option is handled entirely by your tax preparer, not the IRS. Different companies have different policies on when they release these advances. Also, have you checked if there were additional fees for this service? Sometimes these advances come with fees that reduce your overall refund amount.

I was in EXACTLY the same situation on February 12th this year. Had my 846 code but my "5 days early" refund was nowhere to be found. Tried calling my tax preparer but was on hold for 1 hour and 45 minutes before giving up. Finally used Claimyr (https://www.claimyr.com) to get through to the IRS directly. They confirmed my refund was actually sent on the 846 date (not 5 days early) and that my tax preparer should have explained this better. Called the preparer again using Claimyr and got through in 20 minutes - they fixed it same day.

These "5 days early" options are basically marketing gimmicks. I fell for it last year. What they don't tell you is it's actually a loan against your expected refund, not your actual refund arriving early. My experience: I had an 846 date of 3/17, opted for the "early" refund, and got absolutely nothing until 3/19 - two days AFTER my scheduled date. When I called to complain, they said the advance was "declined" but never bothered to tell me. Then my actual refund came through normal IRS channels. Check your tax prep paperwork carefully. There should be a separate disclosure about the refund advance with specific terms.