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I'm in almost the exact same boat - filed Feb 17, using Chime, claimed EIC. My transcript updated yesterday with a DD date of March 7. Since you filed a few days before me, check your transcript soon if you can access it!
FYI the IRS has a huge backlog this year. They're still catching up from pandemic staffing issues and the new tax law changes are slowing everything down. My tax guy told me to expect delays for everyone this season.
Can confirm. My sister works at IRS processing center and said they're drowning in returns right now and understaffed.
If it makes you feel any better, I'm in the exact same situation but with Current Bank instead of Varo. 3/19 DDD, still nothing as of this morning (3/20). Called Current and they said they haven't even received it from the IRS yet. So frustrating!
Has anyone else noticed that the deposit times have been getting worse every year? I used to get my refund within a week of filing back in like 2015. Now it takes 6+ weeks even when there are no issues. The whole system needs an overhaul.
IRS is understaffed and using computers from the stone age. They're literally still running some systems on code from the 1960s. No wonder everything is so slow.
yup i remember getting my refund in like 8 days back in 2016. now im lucky if i see it within a month š
Check your transcript! It will tell you the exact date the IRS sent your refund. If it shows code 846 with date 2/26, that's when the IRS is releasing the money, NOT necessarily when it hits your bank because SBTPG has to process it first. The IRS transcript is always more reliable than any other source.
Last year I couldn't make sense of my transcript at all. This year I used this tool taxr.ai and it explained everything. Made the whole process way less stressful.
Last year I couldn't get any info about my refund and wasted hours trying to reach the IRS. This year I used claimyr.com to get through to a human at the IRS and got all my questions answered in one call. It was so worth it to finally talk to someone who could tell me exactly what was going on.
Sometimes there's a mismatch between the name on your tax return and your bank account that can cause delays. For example, if your tax return has your full legal name but your bank account is under a nickname, or if you recently got married/divorced and changed your name. Might be worth checking with SOFI if there's a name verification issue.
I work at a bank (not SOFI). Digital banks often have different processing schedules for ACH transfers compared to traditional banks. While the Federal Reserve might process the transaction on the DDD, it can take 1-3 additional business days for the receiving bank to post it. Since your DDD was Tuesday, and today is Friday, I'd say wait until Monday before assuming there's a problem.
Thanks for the insider perspective! That's actually really helpful to know.
Amina Sy
the IRS is a disaster this year. I had an 846 date of 2/10 and didn't see my refund until 2/14. Then got a random letter saying they adjusted my amount by $2 š Make it make sense! Just be patient for a few more days.
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Oliver Fischer
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.
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Javier Morales
ā¢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.
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Natasha Petrova
ā¢Whoa that actually works? Might try it if my amended return issues don't get resolved this week.
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