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Success! Just checked my account and my refund landed exactly 28 hours after my SBTPG status changed to funded. I have a DDD of 3/24, didn't pay for early deposit, and used a regional credit union. The refund amount was exactly $4,378.23 after TT took their $89.99 fee. Worth checking your SBTPG account - mine updated before my bank showed any pending deposits.
Just wanted to update everyone - I'm also waiting with a 3/24 DDD through SBTPG and TurboTax. Been checking the SBTPG portal religiously since reading these comments and my status finally changed to "funded" about 2 hours ago! ๐ Using a local credit union so hopefully I'll see the deposit hit tomorrow morning. Thanks @Logan Chiang for sharing your experience - gave me hope to keep checking! And @Miles Hammonds thanks for the portal tip, I had no idea that existed. Will update once the money actually hits my account but feeling optimistic now that it's moving through the system.
try calling the tax advocates line at 877-777-4778. they might be able to tell you if there's an issue with your refund that's not showing up on transcript yet. sometimes there are holds that don't show up right away.
I was having the same problem getting through, but used claimyr.com and got a callback in 45 minutes. Tax advocate confirmed my refund was fine and explained exactly when to expect it. Saved me days of frustration.
Glad to see you got your refund! This is such a common situation that happens every tax season. For anyone else reading this thread dealing with similar delays, here's what I've learned from going through this multiple times: The 846 code means the IRS has definitely released your refund, but there's often a 1-3 day processing window depending on your bank. Chime used to be super reliable with same-day deposits, but lately they seem to be more inconsistent - sometimes early, sometimes right on time, sometimes a day late. A few tips for next year: - Don't panic if your refund doesn't hit exactly on the 846 date - Check your account periodically throughout the day (deposits can come at weird times) - Make sure your banking info is 100% accurate when filing - Consider having a backup plan for bills if you're cutting it close with due dates The stress is real when you're depending on that money, but in most cases everything works out within 24-48 hours of the transcript date.
Called the IRS yesterday and the rep said depositz are still scheduled for the 17th regardless of the holiday. Hope this helps!
Just wanted to share my experience from last year - my PATH Act refund hit my account on Presidents Day itself even though banks were "closed." Most banks process ACH deposits automatically overnight, so federal holidays don't usually delay them. The IRS sends the money out and your bank receives it regardless of whether their physical locations are open. Should still be good for Feb 17th!
lol its the IRS, expect delays on everything. wouldn't be surprised if it takes till march ๐คก
just keeping it real based on past experiance lololol
I work at a regional bank and can give you some insight! When the IRS sends deposits with a holiday date, most banks will actually process them early (usually Friday) or on the next business day (Tuesday). The deposit won't just disappear - it's already authorized by the IRS. Your bank's online system might show "pending" over the weekend but it'll clear. I'd check Friday evening and if not then, definitely by Tuesday morning!
Chris Elmeda
Just want to add something important - while you can use one EIN for multiple sole proprietorship businesses, you really should keep VERY separate and clear accounting records for each. I do this with my consulting business and rental property. I use completely separate bank accounts and credit cards for each business to make it super clear which expenses belong where. Makes tax time way easier and provides better documentation if you ever get audited.
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Alberto Souchard
โขThanks for this advice! Do you recommend separate business banking accounts for each business even though they're under the same EIN? And how do you handle shared expenses that might benefit multiple businesses?
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Chris Elmeda
โขYes, I absolutely recommend separate bank accounts for each business, even under the same EIN. Most banks will allow you to open multiple business checking accounts under your sole proprietorship. This creates a clean paper trail for each business activity. For shared expenses, I calculate the percentage used by each business and split the expense accordingly on each Schedule C. For example, if I have a software subscription that I use 60% for consulting and 40% for property management, I record 60% of the cost on one Schedule C and 40% on the other. Just make sure you have a reasonable basis for how you calculated the split.
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Jean Claude
Something else to consider - if your businesses grow significantly, you might want to restructure into separate LLCs for liability protection. I started like you with multiple businesses under one EIN as a sole prop, but after my Amazon business took off, I formed an LLC for that part to protect my personal assets. You can still use pass-through taxation with an LLC (Schedule C), but you get better protection if something goes wrong with one business. The other businesses wouldn't be affected.
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Charity Cohan
โขDoes creating separate LLCs mean you need separate EINs? Or can you somehow keep the original EIN setup? I'm in a similar situation with growing businesses.
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Dylan Hughes
โขEach LLC would need its own EIN - you can't use your original sole proprietorship EIN for a limited liability company. When you form an LLC, it becomes a separate legal entity that requires its own tax identification number. So if you converted your Amazon business to an LLC, you'd apply for a new EIN specifically for that LLC, while your other sole proprietorship businesses could continue using your original EIN. The good news is that getting an EIN for a new LLC is free and can be done online through the IRS website pretty quickly.
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