I file my taxes on the tenth. They were accepted on the fifteenth and I was told that the money would be deposited in my bank account on the 26th. When I got this notification, I made arrangements to purchase a car on that date. Now, when I check my refund status it says I should get my money by the 30th.
I'm wondering if anyone who knows about this sort of thing could tell me if I should try to change the arrangements with the person I'm buying the car from to meet after the 30th, or do you think the money will still be deposited on the 26th? I don't want to have to call them to tell them the money might not be there that day unless I have to because I don't want them to get mad and sell the car to somebody else.
2007-01-22 03:44:18 · 3 answers · asked by i_just_wondering 1 in Business & Finance ➔ Taxes ➔ United States
Direct deposits are made on Friday, and the IRS refund schedule shows 1/26 as the date for direct deposit of refunds for returns accepted by 11 am January 18. So your refund should be there then. The IRS says the don't guarantee that the money will actually be posted to your account then though. To be on the safe side, I'd talk to the person selling you the car and explain the situation, that you might have to postpone until the following week. You could wait until Friday morning, check your balance then to see if the refund is there, then call them if it's not.
2007-01-22 05:43:45 · answer #1 · answered by Judy 7 · 0⤊ 0⤋
From my experiences, the IRS always makes deposits on Fridays. Turbo Tax told me I would get my return on the 26th also. Irs site says the 30th. From what I have seen, you will get your money on the 26th or the 2nd of Feb. My money has always been in my account on the Friday it was to be deposited. A few days before, the status will change on the IRS site from 'BY THE 30th' to an exact date. Unless there were errors on your return, I am 95% sure you will get your money on the 26th.
2007-01-22 12:59:32 · answer #2 · answered by dlowdog 1 · 0⤊ 0⤋
The IRS is scheduled to release the first round of refunds on January 26. That does not mean your bank account will post the funds on January 26. It is likely your bank will not post the refund for several days after January 26.
Although your money may appear in your account on Monday, January 29, to be safe, wait until you see the deposit in your account before you draw on it.
2007-01-22 11:50:05 · answer #3 · answered by ninasgramma 7 · 0⤊ 0⤋