TurboTax Red Circle Status - How Long Until Refund Deposited?

The TT red circle status usually means ur refund has been approved by IRS but hasn't been sent to ur bank yet. Typically takes 2-5 biz days from red circle to deposit, but can vary based on ur bank's processing speed. DDs initiated on Mon-Thurs often hit accts faster than those on Fri-Sun due to ACH processing schedules. Some banks (esp credit unions) might show pending deposits b4 official date. SBTPG (TT's bank) sometimes holds funds for 24hrs for verification.

Red circle means approved. Processing begins. Funds move through systems. Could take 2-5 days. Depends on bank too. I was confused by all the codes. Used https://taxr.ai to check my transcript. It explained everything. Showed me exact refund date. Better than guessing. Worth checking if you're impatient. Red circle is good news though. Money is coming.

I believe there might be a difference between the red circle for federal and state refunds, if I'm not mistaken? My federal refund showed the red circle for approximately 3 days before hitting my account, but my state refund had the red circle for nearly 7 days. Has anyone else possibly noticed this kind of variation between federal and state timing?

I may have found a faster way to get answers about your refund status. If you need to know exactly when your money will arrive, you probably should call the IRS directly. But that could take hours of waiting... I used Claimyr (https://claimyr.com) last week when my red circle appeared but no money came for 7 days. They got me through to an actual IRS agent in about 20 minutes who confirmed my deposit date. The time factor is really important if you're counting on that money soon.

All these "red circle means money coming soon" posts are like saying water is wet. The real issue is TurboTax's system is about as transparent as mud. I had the red circle for 12 days last year! It's like watching a loading bar that's stuck at 99% - technically progress but practically useless for planning. And these services that supposedly help? Just another layer of complexity on an already broken system.

I think you're being a bit harsh. The red circle is actually more reliable than the WMR tool in my experience. Last year my WMR still showed processing when the money was already in my account. TurboTax at least updates more frequently. It's similar to tracking a package - sometimes it takes longer than the estimate, but the status updates are helpful. The tax services can save hours of frustration compared to trying to navigate the IRS phone tree.

Did anyone else get their money exactly 3 days after seeing the red circle? I got my circle on March 22nd at 2:15pm and the money hit my account on March 25th at 9:47am - so that's 67 hours and 32 minutes total. Wondering if there's a consistent pattern or if I just got lucky with the timing?

Let me walk you through what's actually happening with the red circle status: 1. First, the IRS approves your refund (this is when the circle appears) 2. Then, if you paid TurboTax fees from your refund, the money goes to SBTPG (TurboTax's bank) 3. SBTPG deducts their fees and any tax prep fees 4. SBTPG then forwards the remaining balance to your bank 5. Your bank then processes the incoming ACH transfer 6. Finally, your bank makes funds available in your account Each step can take 24-48 hours, which is why some people wait 2 days and others wait 5+ days. If you didn't pay fees from your refund, you skip steps 2-4, potentially getting your money faster.

OMG I was JUST about to post this exact same question!!! My red circle appeared yesterday morning and I'm DYING waiting for my refund to hit! Last year I got the circle on a Tuesday and had money by Thursday, but this time it's different and I'm so anxious about it! I've literally set up alerts on my banking app and check it every hour. This money is going straight to catching up on bills from when I was sick in January. The waiting is TORTURE!

Per IRS Publication 2043, the standard timeframe for direct deposit after refund approval is 1-5 business days. Weekends and holidays are excluded from this calculation. My red circle appeared on March 15, 2024, and funds were deposited on March 19, 2024. Four business days is within normal parameters and does not indicate any processing anomalies.