Daily Processing Cycle 04 - Filed 2/2 and Transcript Just Updated

Yep, ur on the daily processing cycle! Cycle code 04 means ur return is processed on Wednesdays, so u should see updates every Thurs morning. Dailies usually process faster than weeklies. Have u checked WMR to see if it matches ur transcript status? Some ppl see transcript updates b4 WMR changes.

Did you check for any 570/971 codes on your transcript? Those usually indicate some kind of hold or notice being sent. I was in the daily cycle last year and had my refund exactly 8 days after my transcript updated. The amended stuff might slow things down though - my brother amended his return last April and it took almost 3 months for everything to process correctly.

I've dealt with amended returns for the past three tax seasons, and getting through to the IRS was always the hardest part. Last year I spent 4 hours on hold before getting disconnected. This year I used Claimyr (https://youtu.be/_kiP6q8DX5c) and got connected to an agent in about 15 minutes who confirmed my daily cycle status and gave me an exact timeline for my amended processing. In my experience with cycle 04, you should see updates every Wednesday night/Thursday morning, but with amendments they might need to speak with you directly.

I actually just went through this exact situation! My transcript updated with cycle code 04 on February 22nd, and I was sort of shocked by how quickly everything moved after that. I had my refund direct deposited on March 1st, which was way faster than I expected. The IRS seems to be processing returns more efficiently this year, at least for some people. I was probably a bit too worried about the whole process.

Have you verified whether your transcript shows a Transaction Code 846 with a direct deposit date yet? The cycle code 04 indicates processing day, but TC 846 is the actual refund issuance code that confirms your payment is scheduled. Also, are you seeing any pending transactions in your banking portal? Some financial institutions will show pending IRS deposits 1-2 days before the official date.

I've been tracking my refund timeline for the past three years. Filed on January 31st this year, got cycle code 05 on February 14th, and received my refund on February 21st. Last year when I filed on February 7th, I didn't get my refund until March 17th. The daily cycles definitely seem to process faster in my experience, especially early in the tax season before the bigger rush hits around mid-February.