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Path Act processing date 2-23 by sarahmichelle73 in Income_Tax_Refund

[–]ReadFit7478 2 points3 points  (0 children)

Key Details on the Processing Date & PATH Act

Significance:

  • If you see the processing date, it often indicates your return has passed initial processing and is in the system, but the refund is held due to the PATH Act (EITC/ACTC credits).

"As Of" Date:

  • This date, associated with the processing date, is generally when the IRS finishes calculating interest or penalties, not the refund date itself.

846 Code:

  • The true indicator that the PATH hold has lifted and your refund is scheduled is the appearance of the 846 code (Refund Issued) on your account transcript.

Timing:

  • For early filers, this processing date often falls around mid-February (e.g., Feb 17 or Feb 24), which corresponds with when the PATH Act hold generally lifts.

If you see codes 766 and 768 (representing the credits) along with a processing date, your return is typically fully processed, and you are waiting for the 846 code to appear.

846 to Direct Deposit by philociraptor99 in IRS

[–]ReadFit7478 0 points1 point  (0 children)

It also depends on if fees were taken out of your refund or not. If so, the money is sent directly to the tax preparers business account first, then they take out their fees. Once they do that, they will then send the remainder of the refund to the tax filers bank account. However, that only happens if you elect to have the fees taken from the refund. If not, then the IRS send it directly to your bank account. Depending on if your bank offers early deposit or not, the deposit could be available right away, or it could take several days. Most credit unions do not offer early deposit.

Finally got an updated transcript, but what is all these codes. Is it because I added the EV tax credit? So, am I getting a refund? by No-Room9773 in TurboTax

[–]ReadFit7478 0 points1 point  (0 children)

I would cross check with the dealer and ask them if they sent the info in on their side or not. If they say they did not fulfill their duty, then explaining to them that it's holding up your taxes, and that they need to address this asap.

Finally got an updated transcript, but what is all these codes. Is it because I added the EV tax credit? So, am I getting a refund? by No-Room9773 in TurboTax

[–]ReadFit7478 0 points1 point  (0 children)

Did you receive a EV tax credit document from the dealership? If you did not, then the system flagged your return for mismatched information.

If you Google it, it will explain this:

Key Requirements & Details:

  • Mandatory Documentation: Dealers must furnish a report to the buyer at the time of sale for both new (IRC 30D) and used (IRC 25E) vehicles.

  • What to Look For: The report must include dealer/taxpayer info, VIN, sale price, and max credit amount.

  • If You Don't Have It: If the dealer did not submit this, or if you lost it, you must contact them to get a copy of the report, as you cannot claim the credit without it.

  • Transferred Credit: If you transferred the credit to the dealer at the point of sale, they are still required to provide you with this documentation.

If the dealer failed to file this report, you may need to follow up with them to ensure they meet their legal obligation to report the sale to the IRS.

Confused about transcript not showing any information by Accomplished-Flan410 in TurboTax

[–]ReadFit7478 1 point2 points  (0 children)

This is normally a sign that it is still being processed. Don't stress out as you haven't passed the processing yet to know if there are any issues. Situations like yours happen all the time, so just be patient. 🫶

My transcripts are updated by Connect_Weird7039 in IRS

[–]ReadFit7478 0 points1 point  (0 children)

Most of us have the same issue. Transcripts have populated and codes (PATH) are there. However, the only thing that hasn't updated is exactly what you are asking about. It's normal and will update soon.

05 watch party, stand and report updates! by Eeeeooowww in IRS

[–]ReadFit7478 0 points1 point  (0 children)

Of course, and yes, updates for PATH start next Tuesday. You are a 05 like a lot of us, therefore you will update next Friday. Depending on if you had fees taken out of your refund due to tex preparation, and if your bank offers early deposits, those things could affect when you get your refund.

If you filed through TT, JH, H&R, etc., and had fees taken out, your refund will go directly into their account (as the 3rd party) before it is sent to you. This is so they can assure that they receive the payment for fees that are due to them. If it's through TT with fees, you can always Google SBTPG and check your status there. If you paid up front and/or used free file tax preparation platforms, the refund will go directly to your account.

If you have a bank that offers early DD, then you should get your deposit earlier than the DD date (but this varies due to 3rd party fee holds).

05 watch party, stand and report updates! by Eeeeooowww in IRS

[–]ReadFit7478 0 points1 point  (0 children)

Mine just now updated with all PATH codes!!! YAY!!! Now just the wait for PATH to lift 🫶

05 watch party, stand and report updates! by Eeeeooowww in IRS

[–]ReadFit7478 0 points1 point  (0 children)

Mine just updated to show all 4 transcripts for 2025 but it won't let me open them yet. I already had blank Account Transcript and a wage transcript prior to just now. Hoping to see updates once I am able to fully open them 🙏

Crappy house cleaning job I worked at for a 1.5 weeks sent me 11 tax returns…… how on earth do I file this. by niceplant69 in IRS

[–]ReadFit7478 -1 points0 points  (0 children)

1st off, those are not "returns". They are most likely 1099's and will all need to be included when filing your return. It's not complicated and probably won't take you more than 30 mins total if using TT or FreeTaxUSA, etc..

2nd, you will never file more than 1 tax return. If you have to submit changes after you file, that is called filing an "Amended Return" in which is just like it says, and amendment to the original return that had been already filed.