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Had the same issue ā after identity verification my WMR changed but transcript stayed empty. Called the IRS tax advocate hotline and they told me that the different IRS systems don't always update at the same time. Transcript took about 2 weeks longer to update than WMR. Super annoying but at least it's moving forward for you now.
this is the worst tax season ive ever seen for delays. im a tax preparer and about 70% of my clients had to verify identity this year. most of them had the same experience as you - WMR updates quick but transcripts take 1-3 weeks more to update. as long as verification is complete youre good, just gotta wait for the slow irs computers to catch up to each other
I work at a bank (not Capital One) and this is totally normal. The Automated Clearing House (ACH) system that processes direct deposits works in batches, and most banks get notifications about pending deposits 1-3 days before the effective date. Some banks choose to make those funds available immediately while others wait until the actual date. The IRS doesn't control when your bank makes the money available - they just set the official date.
Is this why some banks consistently give early access to direct deposits? Like advertising it as a feature?
Super jealous over here š Filed in february and STILL havent got my refund. WMR shows delayed beyond normal timeframe and transcripts have cycle code 0605 whatever that means. Anyone else dealing with this???
That cycle code means your account is processed on a weekly cycle. The 05 means your account gets updated on Fridays. Check your transcript again after this Friday to see if there's movement.
did u check SBTPG? If u paid ur fees with ur refund, ur $ goes to Santa Barbara Tax Products Group first. Google SBTPG wheres my refund and check there
TurboTax is awful with communication. Had the same issue, but money showed up fine. DDD is from the IRS, not TurboTax, so as long as that date is there you should be good.
When I had this problem last year taxr.ai saved me so much time and anxiety. It scanned my transcript and explained exactly what was happening with my return in normal human language. Also gave me a timeline estimate that turned out to be spot on. Sometimes the complexity of tax codes is just too much for normal people to figure out.
Not an ad, just sharing what helped me. I spent days trying to decode my transcript with google searches before finding it. If you understand cycle codes and can interpret what 570/971 combos with different dates mean, then you don't need it. But for most of us it's like reading hieroglyphics.
I just tried it after seeing these comments and it was super helpful. Showed me exactly why my refund was delayed (verification issue) and what to expect next. Definitely better than the useless info on the IRS website.
Benjamin Carter
I'm a tax preparer and I've seen this question a lot. Here's what's happening: The IRS sends an ACH transaction with a settlement date (the official DD date on your transcript). Traditional banks typically hold funds until that settlement date even if they receive the information earlier. CashApp, Chime, and some online banks choose to front you the money as soon as they see the pending ACH, which can be 1-5 days before the settlement date. It's not magic - they're just giving you access to the funds before they're technically required to. The actual timing depends on when the IRS initiates the ACH, which day of the week it is, and your bank's policies.
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Maya Lewis
ā¢Does the advance direct deposit feature cost extra with these apps?
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Benjamin Carter
ā¢No, it's usually a standard feature they offer to attract customers. They make their money other ways (interchange fees, premium subscriptions, investing features, etc).
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Isaac Wright
filed on 03/29, accepted 03/30, DDD of 04/12 on my transcript, and it hit my CashApp on 04/10 - so 2 days early.
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