I bank with Chase and had an 846 code dated 1/31 this year. The money hit my account at exactly 3:17am on 1/31, not a day sooner. Last year was the same story - right on the date, not before. My cousin banks with a credit union and she always gets hers 2-3 days before the 846 date. It's one of those weird banking things where the big banks follow the rules to the letter while smaller institutions sometimes give you early access.

Think of the 846 code like a scheduled package delivery. The IRS has loaded your money onto the truck (approved your refund) and scheduled delivery for 2/24. Chase is like that delivery company that never arrives early - they'll deliver exactly on the scheduled date, not before. Some other banks are like the eager delivery person who brings packages a day early when they have room on the truck. I've tracked my Chase deposits for 4 years now, and they're as predictable as sunrise - always exactly on the 846 date, which surprised me given how complicated everything else with taxes seems to be!

Last year I was in the same situation - filed January 23rd and didn't get my refund until March 29th. No notices, no explanations, just silence. When I finally got through to someone, they said my return had been randomly selected for a "consistency review" which doesn't generate any notifications. I had to wait it out, but man was it stressful when you're counting on that money. Have you tried checking your account transcript rather than just the return transcript? Sometimes there are clues there.

OMG the IRS system is SO MUCH MORE COMPLICATED than I ever realized!! 😫 I thought filing early meant getting paid early but there's like 20 different departments your return can get stuck in! I've learned that even when your transcript shows processing complete, there's still fraud detection, random review selection, income matching, credit verification... it's INSANE how many steps there are! And they don't tell you which stage you're in! Why can't they just be CLEAR about where our returns are??

According to the Return Processing Pipeline (RPP) metrics, the IRS is experiencing a 22.7% increase in processing times for returns filed in the second week of February compared to last year. This is likely due to enhanced fraud detection algorithms implemented in the Master File System. I suggest checking your transcript for Transaction Code 150, which indicates your return has been processed through the initial verification stage. Without this code, your return is still in pre-processing.

I filed on February 13th as well and just saw movement yesterday (March 23rd). My transcript updated with a direct deposit date of March 27th. Last year when I filed on February 15th, I received my refund on March 5th. This year is definitely taking longer for everyone, not just you.

According to Internal Revenue Manual 21.4.1.3, the cycle code indicates when your return completed processing. Per IRM 21.4.1.3(1), the first two digits (20) represent the year, the next two (25) represent the processing week of the year, and the last digit (5) indicates the processing day within the week. The as of date is a compliance-related marker and does not directly correlate to refund issuance timing. I would recommend checking your account transcript again next Friday morning (after the overnight Thursday update). If PATH Act verification is complete, you should see an 846 code with a direct deposit date, typically 5-7 days after the code appears.

Just wanted to share some hope - I had almost the EXACT same situation. Filed 1/14, accepted 1/15, cycle code 20250505, and my as of date changed from 03/10 to 02/17 last week. Got my 846 code yesterday with a DDD of 02/28! The system is working, just slowly. The as of date change was definitely the signal that things were moving for me. Hang in there!

I'm fairly certain this post is somewhat misleading. While the 846 code does generally indicate a refund is coming, there are potentially several factors that could still delay it. In my experience, which spans approximately 15 tax seasons, I've occasionally seen deposits take up to 5 business days after the listed date, particularly if there were any offsets or adjustments. It's probably best not to count on the money being available immediately, especially if you're planning to make important financial decisions based on its arrival.

I got my 846 code on January 29th this year, and my deposit hit my Chime account on January 30th at exactly 3:17pm. I think it really depends on when the IRS batch processes your specific refund. Last year I had to wait until February 3rd even though my 846 date was February 1st. Just sharing my experience in case it helps!