Turbo Tax Refund Question?

Question

Why does it say that my refund was direct deposited on 2/16/07 but it's not in my account and it says not to call them to find out until 2/21/07 because there is nothing they can do until then? Where would the money be?

Answer 1

That does seem strange because I had a direct deposit of my federal refund on 2/16 and it was in my bank account yesterday morning. The only thing I can think of is if you used the Simple Pay option or with Turbo Tax it may be something different than H & R Block, but those that wanted a refund anticipation loan and then found out they did not qualify, they were told that the funds would be deposited into their account AFTER the filing fees were taken out first. And, then it may take several days after that for you to receive your check. There has been a lot of people on here with that same problem because their refund had to go through SBBT, but if you efiled directly and had the refund deposited straight into your own bank account, then you really should of had your money by now. There are usually no delays and the day that the IRS says that they are doing a direct deposit---that's the day it is suppose to be there. We have always received ours on that exact day.

Maybe you could call your bank and ask if there is a deposit pending to your account---although even if there was it should show up if you do online banking---but since Monday is President's Day and the bank will be closed---maybe if they got the IRS transmittal too late in the day they could not credit it until the next business day. I don't know---just some thoughts since I've been on this board for awhile and have heard some similar stories. I sure hope you get it soon.

Update: Look at this link posted earlier---it may help as well~~
http://malaysia.answers.yahoo.com/question/index?qid=20070217064035AA049ku&r=w&pa=FZptHWf.BGRX3OFMhjVSU9gDFGEqmJDIM95Id8ppBU3R_A5O_Q--&paid=answered#R4JWLWj5I2dXCwIOl22V

Answer 2

Depending on your bank, it can take a few days (not including weekends) for a direct deposit to be credited to your account. Also, it depends on what Turbo Tax means by "direct deposited." Some businesses may mean that the money was sent on that date or if it was actually deposited on that day. It can be confusing, but 5 days seems like an average amount of time.