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It depends on your bank and sometimes the time of day the IRS sends it. Chase usually posts overnight, so probably tomorrow morning. But I've seen some people get it same day if the IRS sends it early enough. Either way, you're in the home stretch! If you check your Chase app regularly you might see it pending before it posts.
Thanks! Been refreshing the app all day lol. Nothing pending yet but I'll keep checking!
I've been through this exact same situation with Chase! When your transcript shows a DDD (direct deposit date) for today, it means the IRS has officially processed and sent your refund to Chase. In my experience with Chase, they typically post these deposits overnight between 2-4 AM the next business day. So if your DDD is today (3/12), you'll most likely see it in your account tomorrow morning (3/13). I always set my alarm early on refund day because there's nothing quite like waking up to see that deposit hit! The waiting is torture but you're literally hours away from getting your money. Chase is pretty reliable with posting IRS refunds quickly once they receive them.
I would just be careful about claiming too many deductions. I did this a few years ago because I wanted more money for a down payment on a house. Ended up owing $6,400 at tax time AND a $320 underpayment penalty. Caught me completely off guard and I had to get on a payment plan with the IRS. If you're disciplined enough to save the extra money you're getting in each paycheck so you can pay the bill in April, go for it. But most people (including me lol) aren't that disciplined.
Did you have to pay interest on the payment plan too? I'm considering this approach but worried about the total cost if I miscalculate.
Yep, I had to pay both the underpayment penalty AND interest on the payment plan. The underpayment penalty was roughly 4% of the amount I should have paid throughout the year. Then the payment plan had its own interest rate (I think around 5-6% at the time) PLUS a setup fee of about $150. All together, my decision to get bigger paychecks ended up costing me almost $1,000 in fees and interest on top of the actual tax I owed. Definitely not worth it in my case, especially since I spent the extra money instead of saving it for the tax bill.
A tip from someone who's been doing this for years: You can adjust your W-4 to have ADDITIONAL withholding rather than messing with deductions. On the new W-4, there's a line for additional withholding. You can put a NEGATIVE number there (like -$50) and your employer's system might process it, resulting in less withholding without claiming fake deductions. Some payroll systems catch this, but many don't.
Ummm isn't that actually illegal though? Putting a negative number when the form clearly asks for additional withholding seems like fraud to me.
@Connor Gallagher is absolutely right - putting a negative number on the additional withholding line is definitely not something you should do. That s'essentially falsifying a tax form, which could get you in serious trouble with the IRS. The legitimate way to reduce withholding is to adjust the other sections of the W-4 properly - like claiming dependents you re'entitled to, accounting for deductions you ll'actually take, or using the multiple jobs worksheet if applicable. The tools mentioned earlier in this thread like taxr.ai can help you figure out the right approach without resorting to questionable tactics. Remember, the IRS has seen every trick in the book. It s'always better to stay above board and work within the system rather than risk penalties or worse.
Just an FYI for anyone filing Form 8379 - make sure you're keeping really good records showing which spouse earned what income and had what withholding. My husband and I filed injured spouse last year and even though we submitted everything correctly, the IRS still needed additional documentation from us to prove which withholdings were mine vs his. Delayed our refund by 2 months!
That's really helpful advice, thanks! Did you need to submit anything beyond your W-2s to show the separate withholdings? I'm worried because I had some 1099 work this year in addition to my W-2 job, and my husband has only W-2 income.
For W-2s, those were sufficient since they clearly show whose income is whose. For your 1099 work, make sure you have documentation showing you're the one who performed the services - contracts with your name, invoices you sent, etc. The biggest issue we ran into was with joint bank accounts where taxes were withheld (like on interest or dividends). For those, we needed to show whose money was originally deposited that earned the interest. Bank statements showing deposits from each person's employer helped prove this.
I'm dealing with the exact same Form 8379 delay! Really appreciate everyone sharing their experiences here. I called the IRS myself last week (after waiting 3 hours on hold) and the agent confirmed this is happening across all tax software platforms, not just TurboTax. She mentioned that the delay is specifically because they're implementing new fraud prevention measures for injured spouse claims. Apparently there were issues last year with people incorrectly claiming injured spouse status to avoid offsets they were legitimately responsible for. The agent also told me that once filing opens up after March 17th, injured spouse returns will actually be processed slightly faster than previous years because of the system improvements they're making during this delay period. So hopefully the wait will be worth it in the end! One tip she gave me: make sure your Form 8379 allocation percentages add up to exactly 100% between you and your spouse. Even small rounding errors can trigger manual review and delay your refund by several additional weeks.
next year im avoiding tax prep fees completely and going strait to a CPA. This middle man stuff is for the birds fr
FAX NO PRINTER ๐ฏ
I feel your pain! SBTPG had mine for 3 business days last month. What helped me was setting up account alerts with my bank so I'd get notified the second it hit instead of constantly checking. Also their website updates around 6pm EST each day if you want to track the status. Hang in there - it should come through soon! ๐ช
Amara Okonkwo
Is there a time limit for using the withdrawal? Like do I have to use the money within a certain timeframe after taking it out?
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Yuki Watanabe
โขYes! This is super important - you need to use the withdrawn funds within 120 days of taking them out. Make sure your home purchase timeline aligns with this requirement or you could end up owing penalties and taxes.
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Shelby Bauman
Just wanted to add one more important detail that I learned the hard way - make sure you understand what qualifies as a "first-time homebuyer" for IRS purposes. It's not just about never owning a home before. You (and your spouse if married) must not have owned a principal residence during the 2-year period ending on the date you acquire your new home. So if you owned a home 18 months ago, you wouldn't qualify yet. Also, the $10,000 is a lifetime limit per person, so if you're married, you and your spouse can each use up to $10,000 from your respective IRAs for a total of $20,000. But if you're single, you're stuck with the $10,000 limit across all your accounts combined. Make sure to keep detailed records of everything - when you withdrew the money, what you used it for, and proof that you meet the first-time homebuyer requirements. The IRS can be pretty strict about documentation if they audit you later.
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