Filed and accepted 1/31 - 846 code showing DD 2/24 - When do deposits usually hit for Credit Karma?

The 846 code with a February 24th date represents the Treasury's scheduled transfer date, not necessarily when funds will post to your account. Credit Karma, like other tax preparers utilizing Refund Transfer products, typically receives the funds from IRS, deducts their preparation fees, then initiates a secondary ACH transfer to your designated account. This secondary transfer can introduce a 24-72 hour delay beyond the 846 date, contingent upon your financial institution's processing protocols. Most Credit Karma users report receiving funds within 1-2 business days after the 846 date, though weekend processing may extend this timeline.

Did anyone else get their refund who filed around the same time with Credit Karma? I filed on 2/1 and have the same 846 code with 2/24 date but I'm worried because last year my bank took forever to process it after Credit Karma sent it. Has anyone had issues with them holding the funds this year?

I had the exact same timeline as you last year. Filed end of January, got 846 code, but then my refund got stuck in some kind of review. Called the IRS for three days straight with no luck getting through. Finally used Claimyr (https://www.claimyr.com) and got connected to an agent in like 20 minutes. They confirmed my refund was just delayed because of random verification and released it that same day. Worth the fee when you need those medical bills paid! Saved me hours of redial hell.

I believe there might be some confusion about how Credit Karma's refund process works. When the 846 code appears on your transcript, the IRS sends the money to the temporary bank account set up by Credit Karma. They deduct their fees, then forward the remaining amount to your personal bank account. This two-step process typically adds 1-2 business days to the timeline, though some banks process these deposits faster than others. If your 846 date is February 24th, you'll likely see the funds between February 24th-27th, depending on whether your bank processes deposits on weekends.

I'm not convinced the February 24th date is reliable. Last year my transcript showed February 17th, 2023 for the 846 code, but the money didn't hit my Credit Karma account until February 23rd, 2023. That's a full 6 days later. The IRS seems to be running behind schedule this year based on the processing dates I've been tracking. I'd suggest planning for your medical appointments no earlier than March 1st to be safe.

Have you checked if your bank processes deposits on weekends? Since your 846 date is 2/24, which is a Saturday, some banks won't actually post the deposit until Monday 2/26. Also, did you opt for the advance with Credit Karma or just the regular refund transfer? That makes a difference in timing too.

I was in almost the exact same situation last year! Had medical bills piling up and was anxiously watching my transcript daily. Filed with Credit Karma on January 29th, saw my 846 code with a February 21st date, and the money actually hit my account at 3am on February 22nd. Credit Karma took their fees and sent the rest right away. What really helped my anxiety was that I had set up text alerts with my bank for any deposits over $100, so I got a notification the moment it landed. Might be worth setting that up if your bank offers it!

Have you considered using the IRS direct deposit option instead of going through Credit Karma next year? I switched to direct deposit this year after using tax preparer bank products for years, and my refund came exactly on my 846 date with no fees taken out. Isn't it worth saving those preparation fees, especially when you need the money for medical expenses? You could still use Credit Karma to prepare your return but just opt for direct deposit to your own bank account.