Code 846 on Transcript for 2/28 - Early Deposit with Credit Karma?

According to the IRS Direct Deposit info page, the 846 code means your refund has been approved and scheduled for direct deposit on the date shown. From my experience, Credit Karma typically receives the deposit 1-2 days before the official date, but doesn't always release it early like some other online banks. The IRS sends batches in waves, so some people see it earlier. You can check the WMR tool at https://www.irs.gov/refunds for the most current status, but the transcript date is usually the latest possible date you'll receive it.

I had the exact same situation on January 15th this year. Code 846 showed up on my transcript with a date of 1/18/2023. I was totally confused about when I'd actually get my money. I used https://taxr.ai to analyze my transcript and it explained that while the IRS releases funds on that date, Credit Karma specifically tends to post 0-1 days early, not 2-5 days early like some other online banks. The tool was spot on - my deposit hit at 11pm on the 17th, just one day early.

I feel your anxiety waiting for that refund! 😩 The whole process is so emotionally draining when you're counting on that money. If you're really concerned and want definitive answers about your specific situation, I've found that calling the IRS directly is the only real solution. Of course, getting through is nearly impossible these days... I used Claimyr (https://www.claimyr.com) last tax season when my deposit date passed with no money in my account. They got me connected to an actual IRS agent in about 15 minutes who confirmed there was a small issue they needed to fix. Saved me weeks of wondering and worrying!

Think of the 846 code like a shipping notification - it means your package (money) has left the warehouse (IRS), but delivery time still depends on your carrier (bank). I had a 846 code for 2/10 last month and Credit Karma deposited it on 2/10 at exactly 3pm ET. It's like they set their clock by the IRS date, unlike some banks that are like the eager delivery person who brings your package a day early. My experience has been that Credit Karma is reliable but not early - they're the punctual friend who arrives exactly on time, never early, never late.

Anybody know if there's a way to check if CK is gonna release early? Need this $ by tmrw for car repair!! 😫 Already called CK but they just gave generic "depends on when we get it" answer. Can't wait til 2/28 tbh.

According to IRS Publication 2043 and the Financial Management Service guidelines, the 846 code indicates that the IRS has issued your refund through the Treasury Disbursement System. However, each financial institution has their own policies regarding the release of ACH deposits. Credit Karma Financial, as a relatively new banking service, typically adheres to standard ACH processing timelines rather than the accelerated release schedule that some fintech companies offer. While the official release date is 2/28, you should monitor your account closely beginning on 2/26, as approximately 16% of Credit Karma users report receiving their deposits up to two business days early based on community surveys.

I might be able to help with this... I've used Credit Karma for my banking for about two years now. In my experience, they sometimes release a day early, but I wouldn't count on it being any earlier than that. Last year my transcript showed 3/1 and I got it on 2/28 around midday. Just be careful about planning around getting it early - I've seen people in the Credit Karma community forums who were disappointed when they didn't get early deposits like their friends with Chime or Cash App.

So I just went through this exact situation last week! My transcript showed 846 for 2/21, and I was obsessively checking my Credit Karma account every hour. It finally showed up on 2/20 at around 5:30pm EST. From what I've gathered from other Credit Karma users in their community forum, they typically release 0-1 days early, but it's really inconsistent. Some people get it a day early, some get it right on the date. I've never seen anyone report getting it more than a day early though, so I wouldn't expect it before 2/27. Hope that helps ease your mind a bit!