E-file Refunds

[Snaggletooth]

Are any of your e-file customers getting refunds yet?

Note the question - do they actually have their money yet.
Not "Did their e-filing go smooth", or "is the ACK working."

With the IRS claiming they were stalled on the AMT legislation,
I would be curious to know whether people are actually getting
money back. That lets me know what kind of comfort level I
can give to my customers. Most of the early crowd cares only
about their refund -- they don't care what goes on with our
software or what happens at the IRS, etc.

[ecb34691]

Saw the first of the direct deposit items (not RAL's) flowing through on Thursday/friday right on schedule.

[Brian EA]

Direct Deposit and RAL'S on schedule. Have not seen an IRS check yet

[thomtax]

Direct deposits have been on time for my filing.

LT

[Black Bart]

Yeah,

my clients are getting them okay and on schedule.

[RLymanC]

Refunds appear

to be depositing on time.

The IRS released the 1/25 deposits on time. I had some come thru Thur. night.

I have not had any clients calling on missing 1/25 deposits.

[dmj4]

Okay here

I don't do RAL's but the efile refunds were direct deposited on 1-25.

Donna

[gkaiseril]

IRS Time

The IRS posted calendar dates are based on the acceptance date by the IRS not your transmission date, since the IRS has upto 24 hours to accept a return this can cause some misunderstanding as to the date the deposit will be made. For example you transmit 12 hours before the weekly IRS drain but the IRS does not acknowledge your transmission for 24 hours, the deposit will be in the next weeks, 14 days, processing cycle.

Also the IRS date is the date the IRS sends the refund out, but a client's bank can hold the refund deposit in suspense like any other deposit for up to the bank's limit for processing deposits. So if a bank holds the deposit for 3 days that adds another 3 days to the receipt by the customer.

Sometime Uncle Sam relaeses the money a couple of days early or in the morning or and not and the EOD,

[ecb34691]

CFR 210 says banks can't hold government DD items. The depositor gets the same treatment as if they walked in at opening time and cashed the government check.

[taxxcpa]

So far so good

I've only filed two, using Drake.
One has code A (accepted)
the other has code P (Drake processed)

This early, the IRS is probably flooded with the RAL-type returns, so the acknowledgements may not come as quickly as they will later in the season.

[ecb34691]

IRS is not slowed down. Returns sent prior to the 11:00am "drain" are being "acked" by as early as 12:15pm and the 6:00pm "drain" back by 7:30pm all types of returns.

[fliszt]

I just look at the 9325

which shows the same range for deposit as Pub 2043 shows. I send a copy to the client and have had no repercussions.

[Snaggletooth]

Thanks

Thanks gang. Very happy to know this is going well. My first e-file is this week. I don't have much of the early crowd.