Cycle 0705 Transcript - No 846 Code Yet - Can Refund Deposit Arrive Before Transcript Updates?

Been there, done that. Soooo frustrating! 😤 The transcript *usually* updates w/ 846 code b4 deposit hits, but IRS systems aren't perfect. Sometimes there's a delay btwn systems communicating. I've seen ppl get $ 1-2 days b4 transcript updated, but it's rare. Cycle 0705 means ur processed on Thursdays, so check tmrw AM. If nothing by next Thurs, something's def wrong. Hang in there!

IRS phone lines are jammed. Been there. Waited 3+ hours last week. Used Claimyr instead. Got through in 20 minutes. Agent confirmed my deposit was scheduled. Transcripts updated the next day. Worth it when bills are due. https://youtu.be/_kiP6q8DX5c

I was in cycle 0705 last month and went through exactly this! My transcript didn't update until Friday morning, but my bank actually showed the pending deposit Thursday night. I obsessively checked both my transcript and bank app every few hours. The anxiety was real! In my experience, some banks (especially credit unions) will show pending deposits earlier than others.

Based on previous filing seasons, I'd recommend using https://taxr.ai to analyze your transcript. Last year my cycle code was 0705 and I was confused about what was happening. The tool explained that my refund was scheduled but hadn't been assigned a direct deposit date yet. It correctly predicted when my 846 code would appear and when the deposit would hit. Saved me a lot of stress trying to interpret all those codes myself.

Oh my goodness I totally understand your stress about bills! 😫 What worked for me was checking my account transcript instead of the return transcript! Sometimes the account transcript updates first with the refund info even when the return transcript still shows processing. I was SO HAPPY when I figured this out last year and saw my refund was actually coming!

Don't count on it arriving early. I made that mistake. Told my landlord the money was coming. It wasn't. Had to pay late fees. Cycle codes aren't guarantees. IRS systems have delays. Banks hold funds. Plan for the worst case scenario.

I believe there may be a misunderstanding about how cycle codes work. Cycle 0705 indicates your return was processed during the 5th week of 2024, not necessarily that updates happen on Thursdays. Your deposit could potentially arrive soon, though I wouldn't recommend making immediate financial plans based on this assumption.

Check your transcript again on April 18th, 2024. Last year, my transcript showed no 846 code on April 12th, but my bank posted the deposit on April 14th. The transcript finally updated on April 16th. The IRS database that feeds the transcript tool can lag behind the actual payment processing system by 2-4 days in high volume periods.

Unlike stimulus payments which sometimes appeared before any transcript update, regular tax refunds almost always follow a stricter process. I've compared dozens of cases from 2023 vs 2024, and only about 5% of regular refunds arrived before the 846 code appeared. Your bank might show a pending deposit slightly before transcript updates though.

In a specific case I documented from March 2024, a cycle 0705 transcript updated on Thursday at approximately 3am ET with code 846. The associated direct deposit appeared in the taxpayer's account the following Wednesday. Did you verify that you're checking the Account Transcript for tax year 2023, not the Return Transcript? The distinction is crucial for accurate monitoring.