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What day does the IRS deposit refunds?
The IRS doesn't issue a schedule anymore, so this schedule isn't as official as it once was. The processing time table is variable, but disregarding any holds (beginning CTC & EIC tax fraud holds & audits, for example), they follow this rough schedule…For E-Filed returns only:Returns accepted between Monday - Sunday (before 11:00 am) are refunded in the same batch. Deposits are made on Mondays, minimum 8 days after return is accepted. 8 days after the week/batch ends.Keep in mind- returns are usually accepted the day they are filed, but not always. Refund dates go by the accepted date. Also, your banking institution can delay the refund by up to a few days, depending on their pending process. The schedule given is only for when the IRS sends the refund.Returns filed/accepted this week, Monday the 8th to 11 am, Sunday the 14th, will have direct deposit refunds sent on Monday the 22nd.Refund checks usually take 4 days longer to be mailed, on Fridays. In the above example, it'd be Friday the 26th.I have seen many 2022 refunds follow the exact schedule above.ETA: Keep in mind, Accepted is not the same as Approved. It is the acknowledgement of the return being received.
Did we all actually get 17% less in tax refunds this year in 2022 as a result to the Republican Tax plan? How did that happen, considering there was"supposed to be" tax cuts?
I’m going to make this so easy that even a democrat can understand:Your buddy says that to sleep in his basement between your gigs at Starbucks and your budding career as a drummer for a local band (hey, someone has to pay off that $100k student loan you took out to be a Gender Studies Major), you have to “pay” him 2 joints per month. Sounds fair, right?You, being so high out of your mind, over pay, and instead give him 3 joints per month rather than 2.At the end of the year you do your “taxes” and determine that you’re getting a “refund” of 12 joints, because you overpaid your buddy by 1 joint per month.The next year your buddy passes a cut in your rent. Now you only have to pay him 1 joint per month. Again, being high out of your mind, you end up paying him 1.5 joints per month.At the end of the year you do your taxes, and your “refund” is 6 joints.OH MY GOD!!! MY BUDDY SAYS I WAS GETTING A CUT IN MY RENT!!!! BUT THIS YEAR I ONLY GOT 6 JOINT REFUND INSTEAD OF 12!! WHAT A LIAR!!!But then you came down from your high, did the math, and calculated that:Year 1: You paid a total of 24 jointsYear 2: You paid a total of 18 joints.Even though your “refund” was smaller in year 2, you actually paid LESS in rent.
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