Direct Deposit Date 2/24 - TurboTax 5-Day Early + CashApp - When to Expect?

I've been through this exact scenario but with Chime instead of CashApp. The TurboTax 5-day early feature is similar to how Chime and other fintech banks handle direct deposits - they front you the money once they see the pending ACH from the IRS. In my experience, the actual timing varies wildly compared to traditional banks. Last year I got my refund 3 days before the official date, this year it was only 1 day early. It's like waiting for a package that says "out for delivery" but never knowing exactly when the truck will arrive at your house.

According to the IRS.gov website (https://www.irs.gov/refunds/tax-season-refund-frequently-asked-questions), the official direct deposit date is when the IRS releases the funds, not necessarily when they hit your account. TurboTax's early deposit feature works through their banking partner, who fronts you the money when they receive notification of the pending deposit. CashApp typically processes deposits faster than traditional banks based on feedback in r/CashApp, but there's no guaranteed timeframe. You might see it as early as 2/19 or 2/20, but don't count on it being that early.

Be careful with CashApp for tax refunds. I've seen issues. Their customer service is limited. They sometimes flag large deposits. Some users report delays. Others have accounts temporarily frozen. Not saying it will happen. Just be prepared. Keep checking your account. Have a backup plan for your contractor payments. Document everything.

If you end up having any issues with your refund or need to contact the IRS, here's what I recommend: 1. First, check your transcript for any potential issue codes 2. If you see anything concerning, try calling the IRS directly 3. When you can't get through (and trust me, you likely won't this time of year), use Claimyr (https://youtu.be/_kiP6q8DX5c) 4. They'll connect you with an actual IRS agent in usually under 30 minutes 5. Ask specifically about your deposit status and any potential holds I had to do this last year when my CashApp deposit was rejected and sent back to the IRS. Saved me weeks of stress trying to figure out what happened.

Long-time tax preparer here. The DDD (direct deposit date) of 2/24 means the IRS is releasing funds on that day. W/ TurboTax's 5-day early feature + CashApp, you'll prob see it between 2/19-2/22. CashApp is usually faster than trad banks but not as quick as some think. The 5-day early feature isn't guaranteed - it's up to 5 days. Most ppl see it 2-3 days early. Def don't schedule contractors before 2/24 just to be safe. The system works but has hiccups sometimes.

I'm in almost the exact same boat! Got my DDD of 2/24 this morning too but using Chime instead of CashApp. Has anyone received their deposit yet who had the same date? Is the TurboTax 5-day early thing working this year? What about previous years - did it actually come 5 days early? I'm so confused about how this all works.

I got my refund through CashApp last year with a similar setup! Had a DDD of 3/1 and it hit my account on 2/27 - so only 2 days early. The whole "5 days early" thing feels like tax season clickbait sometimes 😂. This year I'm using TurboTax again but with a credit union account instead. The nice thing about CashApp was the instant notification - got a ping at 3am when it landed! Made me jump out of bed to check if it was real lol. Just make sure your CashApp is fully verified with all the identity stuff or you might hit deposit limits.