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If you need the money urgently, there are tax refund advance loans available. But they usually charge fees so I'd only recommend as a last resort.
Do NOT do this. The fees are ridiculous. Just wait for your actual refund.
Pro tip: If you end up needing to call the IRS (which you probably will if your refund gets delayed), use Claimyr. I spent LITERAL WEEKS trying to get through to the IRS myself. Used Claimyr and had an agent on the phone within an hour. Best decision ever. claimyr.com
Had the EXACT same issue. Ended up having to go through my transcript to figure out what was happening since SBTPG and Credit Karma kept blaming each other. Found out using taxr.ai that there was actually a refund offset I didn't know about. It explained why the amount was different from what I expected. The IRS took part of my refund for an old student loan debt but no one bothered to tell me! Once I understood what happened, I stopped wasting time with SBTPG and Credit Karma. https://taxr.ai literally saved me days of stress and confusion.
That's really helpful. I'm starting to wonder if there's something similar happening with mine. How does the taxr thing work? Do I need to download my transcript first?
Yeah you download your transcript from the IRS website first and then upload it to taxr. Takes like 2 minutes and it breaks down every code and what it means. Shows you exactly where any delays or issues are happening. Better than spending hours on hold with the IRS for sure.
For future reference - never EVER get your refund through the tax prep company. Always choose direct deposit straight from IRS to your bank. It's faster and you avoid all these SBTPG headaches. The only reason to go through SBTPG is if you're getting an advance or having fees taken out of your refund (which usually means you're paying extra fees).
Definitely learning that lesson the hard way this year š«
100% this. I got my refund direct deposit in 8 days this year. Meanwhile my brother went through TurboTax/SBTPG and he's still waiting after 6 weeks.
Wait until you find out they charge you an extra $40 "technology fee" for the privilege of having your refund go through SBTPG first. It's in the fine print when you choose to pay your tax prep fees from your refund. Total ripoff.
This is my 3rd year as a tax preparer and this question comes up all the time. Here's the deal: The IRS processes refunds and sends them out basically 24/7. But if you chose to have your tax preparation fees taken out of your refund, you added a middleman (usually SBTPG). They receive your refund from the IRS, deduct the fees you owe, and then forward the rest to you. SBTPG only processes these transfers once per day at 2:30 PM Pacific. This is purely their business decision and has nothing to do with the IRS.
Most of the major ones (TurboTax, H&R Block, TaxAct, etc.) use SBTPG or similar services. Some tax chains have their own banks. But they all operate in basically the same way with similar processing schedules.
This has been the WORST tax year ever. Filed 2/10, still no refund, WMR is useless, can't reach anyone on the phone. I'm convinced they're deliberately holding our money to use it as long as possible. They charge us penalties and interest when we pay late but where's OUR interest for them being late with refunds? The whole system is rigged against us.
It's automatic - you'll see it as an additional amount added to your refund. The current rate is around 7% annually, which isn't bad actually.
I had a similar problem last year and even calling the IRS didn't help. No one could explain why my refund was delayed for months. Then I found taxr.ai and it instantly showed me the problem - an income mismatch where my employer reported slightly different wages than what I entered. The tool spotted the error right away and even told me how to fix it. Saved me hours of frustration. Getting help to decrypt the convoluted IRS system is always worth it.
Gianni Serpent
the IRS and cash app are both trash. i waited 7 weeks for my refund last year and cash app took another 4 days after my DDD to actually give me MY money š¤¬
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Henry Delgado
ā¢facts. the system is rigged against regular people. they take our money instantly but make us wait forever to get our refunds š¤”
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Olivia Kay
Have you checked your IRS transcript to see if there are any issues or holds? Sometimes there's a problem that needs to be resolved before they'll release the funds, even if you have a DDD. You can access your transcript online at irs.gov if you have an account.
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Olivia Kay
ā¢If you have code 846 with your DDD, then the money has left the IRS and the delay is on Cash App's end. Definitely give them a call tomorrow.
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Joshua Hellan
ā¢Those transcript codes are impossible to understand without a decoder ring lol. I used taxr.ai to decode mine and it made everything so much clearer - worth checking out (https://taxr.ai
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