Weekly Processing Cycle 0505 - Anyone Seeing Updates Yet?

The 0505 cycle is like a train that runs on a specific schedule - it typically updates overnight between Thursday and Friday each week. It's kind of surprising how the IRS still operates on these weekly batch processing cycles in 2024, almost like they're still using technology from the 90s! From what I've seen in the community, most 0505 people should see updates by tomorrow morning, but sometimes the system gets backed up like a highway during rush hour.

I'm SO frustrated with how the IRS handles these cycles! Have you checked your account transcript as well as your return transcript? Sometimes one updates before the other. I'm also wondering if you've claimed any credits that might delay processing? I'm feeling like there's probably more to your situation than just the cycle code.

I actually do have the Child Tax Credit for my two children, and I e-filed back in early February. My Return Transcript still shows N/A, but my Account Transcript has the 0505 cycle code with a processing date of April 1st. I've been monitoring the Where's My Refund tool daily, but it's still on the first bar showing "Return Received." The lack of movement is definitely concerning when you're trying to budget for the upcoming month.

Cycle codes can be confusing. Weekly updates happen Thursday nights. Daily cycles update nightly. Calling IRS often helps. Agents can see more details. Try Claimyr.com to get through faster. I used it last week. Got connected in 15 minutes instead of hours. Agent confirmed my 0505 was just delayed but processing normally. Worth the call for peace of mind.

According to the IRS2Go app and several posts I've read on r/IRS, isn't cycle 0505 supposed to update tonight? I'm checking my transcript every few hours based on what people are saying at igotmyrefund.com. Has anyone actually confirmed if the updates happen at midnight Eastern or Pacific time?

I've been tracking cycle 0505 for exactly 3 tax seasons now. Updates typically hit the system between 12:00am and 3:00am EST on Friday mornings. Last week, 71% of cycle 0505 filers in our tracking thread saw updates by 2:15am. Direct deposits usually follow 5-7 days after transcript updates. If you claimed CTC, expect exactly 1 additional week of processing time. The system is frustratingly predictable in its delays.

Just wanted to share that I was cycle 0505 last year and this year too. Last year I was checking constantly and driving myself crazy. This year I just waited patiently after seeing my cycle code. Like clockwork, my transcript updated exactly when expected (Friday morning) and my refund hit my account the following Wednesday. The cycle codes are actually quite reliable once you understand how they work. I remember feeling just as anxious as you are now!