Transcripts Are Updating for May 5th Filers - Check Your Status
Just checked my transcripts at 6:30AM today (May 12th). After not seeing any movement since filing on May 5th, I noticed my transcript has finally updated. For those who filed around the same date, you might want to check yours. Processing seems to be moving along at a reasonable pace this year compared to previous years. I'm expecting my deposit by May 19th based on the cycle code. Has anyone else with a similar filing date seen updates?
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Kylo Ren
Thanks for the heads up! I filed on May 6th and have been checking WMR daily with no movement. Just checked my transcript on irs.gov/transcripts and you're right - mine updated overnight too! Do you know if this means we'll get our refunds next week? The IRS refund schedule on efile.com suggests we might.
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Nina Fitzgerald
ā¢The transcript update typically means your return has completed processing. If you see a 846 code with a date, that's your scheduled deposit date. May 19th is the next direct deposit date for weekly processing. I've been tracking this pattern for years and it's quite consistent - if you have a cycle code ending in 05, you're on weekly processing and should see your deposit exactly on the date listed with your 846 code.
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Jason Brewer
ā¢Isn't it amazing how the IRS operates on these predictable schedules? I remember last year when my transcript updated on a Thursday morning, I received my deposit the following Wednesday exactly as the cycle code predicted. Have you checked whether you have any additional codes like 570 or 971? Those could potentially delay things, though they often resolve automatically.
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Kiara Fisherman
ā¢I'm seeing a 570 code on mine with today's date. Does this mean my refund is going to be delayed? I claimed the Child Tax Credit this year and really need this money for summer childcare expenses.
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Liam Cortez
Check if you have a code 846 on your transcript. That's your direct deposit date. If you don't have that yet, you're still processing. Look for the cycle code too - if it ends in 05, you're on weekly processing and updates happen on Thursdays/Fridays. If it ends in 01-04, you're daily processing and could update any day.
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Savannah Vin
ā¢100% this. The cycle code is super important. Ppl with 05 cycles get updates Thurs/Fri and DD the following Wed. Been that way for yrs. Also worth checking for TC 570/971 combos which usually mean there's a minor adjustment happening.
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Mason Stone
ā¢Think of your tax return like a package being shipped. The 846 code is like the "out for delivery" notification - it means your money is on the way. The cycle code is like choosing standard shipping versus express shipping - it determines which processing schedule you're on.
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Makayla Shoemaker
ā¢I've been tracking my transcript for exactly 17 days now. My cycle code is 20231805 and I just got my 846 code with a date of 05/19/2024 for $4,327. The system is working precisely as described here.
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Christian Bierman
I've found that calling the IRS might possibly help in some cases if your transcript hasn't updated within about 21 days of filing. They can sometimes provide additional information that isn't showing online yet. It seems like the May 5th batch is moving through fairly quickly though, which is somewhat unusual but certainly welcome news for most filers.
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Emma Olsen
I spent 3 hours on hold with the IRS yesterday trying to figure out why my transcript wasn't updating. THREE HOURS! š Then I found out about Claimyr (https://www.claimyr.com) and they got me connected to an actual IRS agent in like 20 minutes today. Agent confirmed my return is processing normally and should update by next week. Saved me from spending another day listening to that awful hold music! Worth every penny for my sanity alone.
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Lucas Lindsey
I'm not entirely convinced that transcript updates follow a completely predictable pattern. While many May 5th filers are seeing updates, I've been monitoring several tax forums, and there appear to be exceptions. Some February filers are still waiting for updates. That said, if you're seeing cycle codes and 846 dates, those are generally reliable indicators. Just be prepared for possible delays if you claimed certain credits or if there are verification issues with your return.
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Sophie Duck
I filed on May 3rd and my transcript updated yesterday with cycle code 20241905 and an 846 date of May 19th. The processing was remarkably fast this year. Have you noticed any particular pattern with the processing codes on your transcript? Did you have any 570/971 combination codes before getting your 846?
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Austin Leonard
According to IRM 21.4.1.3, normal processing time for e-filed returns should be 21 days, but many returns are being processed faster this year. It's worth noting that per IRC Ā§ 6402(a), the IRS has the authority to credit overpayments against any liabilities before issuing refunds, which can cause delays that aren't reflected in transcript updates. If your transcript shows recent activity, that's generally a positive sign.
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Anita George
My sister filed on May 4th and her transcript updated yesterday. I filed on May 7th and nothing yet. This is so much faster than last year when I filed in February and didn't get my refund until April! The IRS seems to be moving much quicker with the later filers compared to how they handled early filers who claimed EITC or CTC.
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