Will IRS Code 846 Refund of $14,216 Show Up in Bank on 2/12/24 After Prior 570 Hold?

Just checked my transcript on sa.www4.irs.gov and noticed an 846 code with 2/12/24 date. I've been waiting forever and really need to know if this means I'm finally getting my refund on February 12th. Can anyone confirm what this date actually means? I can see it clearly on my transcript at sa.www4.irs.gov but I'm not sure if that's the actual deposit date or just a processing date. Looking at my transcript more closely, here's what I'm seeing: ACCOUNT TRANSCRIPT Tax Period: Dec. 31, 2023 Return Type: 1040 TRANSACTIONS CODE EXPLANATION OF TRANSACTION CYCLE DATE AMOUNT 150 Tax return filed 20240128 $0.00 806 W-2 or 1099 withholding 04-15-2024 -$8,427.00 768 Earned income credit 04-15-2024 -$3,689.00 766 Credit to your account 04-13-2024 -$2,100.00 570 Additional account action pending 01-29-2024 971 Notice issued 01-29-2024 846 Refund issued 02-12-2024 $14,216.00 I'm totally confused about what this all means. Does the 846 code with 02-12-2024 date mean my refund of $14,216.00 is being deposited on that date? Or is that just when they process it and I'll have to wait longer? I've been checking my bank account every day and nothing has shown up as pending yet. Also, I notice there was a 570 code from 01-29-2024. Does that mean there was some kind of hold that got resolved? And what about that 971 "Notice issued" code from the same date - I haven't received any notice in the mail. I'm really desperate for this money to come through. Been waiting since I filed in early January and rent is due next week. Anyone familiar with these transcript codes who can tell me exactly what to expect and when?

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Isaiah Sanders

Code 846 appearing on your IRS transcript at sa.www4.irs.gov is the official refund issued code, and the 2/12/24 date indicates when the IRS will release your refund payment. This is a firm disbursement date - the IRS will initiate the transfer to your bank on February 12th, 2024. The sa.www4.irs.gov website is the IRS's secure portal where you can view your official tax transcript. When checking there, the code 846 is one of the most important indicators you can see, as it definitively confirms your refund has been approved and scheduled. Your actual deposit timing will depend on your bank's processing speed: - Same day for some online banks - 24-48 hours for most major banks - Up to 5 business days for smaller institutions If you've been waiting a while, you can be confident now - the appearance of code 846 means your refund has cleared all processing and verification steps and is scheduled for release. The countdown to your refund is nearly over.

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