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the irs website is literally unusable rn. keeps giving me an error message saying try again later smh
try early morning or late night, less traffic š
I went through this last year and discovered something most people don't realize. The TurboTax 5-day advance isn't actually handled by TurboTax itself, but by their banking partner Green Dot. Back in 2022, I spent days trying to figure this out until a helpful agent explained the system to me. You need to check two places: first, your TurboTax account under "Refund Status," and second, the Green Dot Bank portal. If you didn't receive Green Dot login credentials, call 888-285-4169 and they can resend the access information. Just be prepared to verify your identity with your filing details and SSN.
Thanks everyone for the detailed responses! I wanted to follow up since I finally got this sorted out. Turns out @Reginald Blackwell was right - the Green Dot email was sitting in my spam folder this whole time! š¤¦āāļø For anyone else dealing with this, here's what I learned: since I had an amended return (1040X), the advance took exactly 7 business days to fund, which matches what @Gabriel Ruiz mentioned earlier. The Green Dot portal showed "pending verification" status for the first 5 days, then switched to "funded" on day 6. The money hit my account on day 7. One thing I wish I'd known earlier - the portal actually sends you text notifications if you enable them in settings, which would have saved me a lot of anxiety checking manually. For anyone with amended returns, just be patient with the timeline!
I believe I've noticed a pattern with the 0705 cycle code this year that might be helpful. It seems that returns with this code might be taking slightly longer than some other cycles, but they do appear to be moving through the system. Perhaps checking your transcript for any additional codes like 570 or 971 could provide more insight? In my experience, these codes sometimes indicate that the IRS might need additional time to process your return, though it doesn't necessarily mean there's a problem.
Thank you so much for this insight! I've been stressing about my 0705 code but this gives me hope. Just checked and I don't have any 570/971 codes, just processing codes, so hopefully that's a good sign!
I'm also stuck with cycle code 0705 and filed in late January! It's reassuring to see so many others in the same boat. From what I'm gathering from everyone's responses, it sounds like Thursday transcript updates are key for our cycle code. I've been checking randomly throughout the week, but I'll focus on Thursday mornings going forward. The waiting is definitely stressful, especially when you have expenses lined up like your home repairs. Fingers crossed we all see some movement soon - this community has been incredibly helpful in understanding what's normal vs. concerning!
Something no one has mentioned yet - SUVs, trucks and vans over 6,000 pounds have different rules than regular cars! If your business legitimately needs a heavy vehicle, the Section 179 deduction limits are much higher. My accountant helped me with this for my construction business. I bought a $75k Cadillac Escalade and was able to deduct a significant portion because it qualifies as a heavy SUV and I use it 90% for business (carrying supplies, visiting job sites, etc). But for a Ferrari? No way man. It's too obviously a personal luxury purchase, and it doesn't qualify for the heavy vehicle exception.
Wait are you saying that if I bought a G-Wagon or a Rivian instead, I'd get better tax treatment than with the Ferrari? That's actually super helpful to know. Do you happen to know the specific weight requirement to qualify?
Yes, exactly! Vehicles with a gross vehicle weight rating (GVWR) over 6,000 pounds get much better tax treatment. For 2024, regular "luxury" passenger vehicles are limited to around $11,200 in first-year depreciation, but qualifying heavy SUVs, trucks and vans can be eligible for much higher deductions under Section 179. The G-Wagon and most Rivian models definitely qualify based on weight. You'd still need to use it primarily for business (at least 50%) and keep detailed mileage logs, but the potential deduction is significantly higher than what you'd get with a Ferrari. To qualify, check the vehicle's GVWR, which is usually listed inside the driver's door jamb. It needs to be over 6,000 pounds - not the actual weight, but the rated capacity.
Im a tax attorney and I'll give you the honest (maybe unwelcome) answer: the Ferrari is a red flag. Can you deduct a percentage based on business use? Technically yes, with proper documentation. But luxury sports cars are audit magnets. The IRS specifically looks for business owners claiming exotic cars. They know most people dont buy Ferraris for business necessity. Regarding your sisters plane: the IRS allows deductions for travel between business locations. If those properties are legitimate business investments requiring her physical presence, then yes, reasonable travel costs can be deductible. But heres the key difference: Her travel serves a clear business purpose. Your desired Ferrari's primary purpose appears to be personal enjoyment with incidental business use.
My friend just bought a Porsche 911 for his real estate business and wrote the whole thing off! Said his accountant told him it was totally fine as long as he puts the business logo on it. Is that true?
@Destiny Bryant Your friend s'accountant gave him terrible advice. Just putting a business logo on a personal vehicle doesn t'magically make it 100% deductible. The IRS looks at actual business use, not marketing stickers. A Porsche 911 for real estate? That s'going to be a huge red flag in an audit. The IRS will want to see detailed mileage logs proving business necessity, and I "need a sports car to show clients houses isn" t'going to fly. Your friend is setting himself up for penalties, interest, and potentially fraud charges if he s'claiming 100% business use on what s'clearly a personal luxury vehicle. He needs to get a second opinion from a competent tax professional before he gets audited. The proper way is to track actual business mileage and only deduct that percentage of vehicle expenses - and even then, luxury vehicles have strict depreciation limits that make the deduction much smaller than people expect.
Logan Scott
Check your cycle code. If your on weekly updates youll see movement next thursday. If daily could be anytime
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Zainab Ismail
Congratulations on getting that 810 freeze removed! That's such a relief after all the waiting. The 766 credit code with the 04-15-2024 cycle date is definitely a positive sign. From what I've seen in this community, most people get their refunds within 7-10 business days once the 810 drops off and they see the 766 code posted. The fact that your account balance shows $0.00 with no penalties or interest is really encouraging - it means they've cleared everything out and you're just waiting for the final deposit. Keep checking WMR and your bank account, you should see movement soon! š¤
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