Many tax filers are anxiously waiting for the IRS to provide updates on their refund release and payment date. Particularly now that the PATH act refund freeze has lifted.
These are mainly folks with a processing dates out 1 to 3 weeks with daily or weekly cycle codes, per their IRS tax transcript as shown in the examples below.
Those who have gotten transcripts updates recently – often before WMR or IRS2Go status changes – are seeing refund direct deposit payment dates in the coming days.
In some cases, the refund payment is coming even sooner than what is shown on their transcript or Where is My Refund tool. See the DDD payment schedule and further details in the sections below.
Understanding Transcript Codes and Processing Date
You can see your next processing date on your free IRS transcript. In conjunction with your IRS batch/cycle and the various transaction codes you can get further insight into your tax return and refund payment processing.
846 Refund Issued vs Processing Date
You need to realize that the processing date on your transcript is not your refund payment date. That will be signified by code 846 (refund issued) where you will see your personalized date by when the IRS estimates your refund will be issued.
If the IRS completes processing your return by the “processing date” then it may also end up being your refund issued date (on line 846), but this is not always the case.
The processing date will also change if the IRS takes action on your account/tax return and moves it to the next stage. So someone with a 2/13 date on a weekly cycle, will move to a 2/20 processing date once the IRS updates their account.
The date on your refund issued line (846) is the one that really matters in terms of when you will get your direct deposit or paper check refund payment.
You can see a more detailed transcript screenshot below and in this article on how to interpret the amounts, codes and dates.
Also always validate any transcript payment dates with what you see on the official IRS’ WMR and IRS2Go refund trackers.
Leave comment if you have any questions or have additional codes you want help with on your transcript.
Estimated Refund Payment Schedule for PATH refund payments
An estimated WMR and transcript status update and refund payment date table is shown below for the coming weeks.
|STATUS UPDATE DATE
|PAYMENT DATE (Direct Deposit)
|By Feb 17th
|Feb 22nd to Feb 24th
|By Feb 19th
|Feb 24th to Feb 27th
|By Feb 21st
|Feb 24th to Feb 28th
|By Feb 28th
|Mar 1st to Mar 8th
Early PATH Refund Processing
Several filers are reporting updates on their transcript and WMR, showing a refund payment date – code 846 – which shows the PATH freeze on their refund payment has lifted.
These folks were mainly those with 2/13 or 2/20 processing dates. However the key refund date that matters is the one listed against the code 846 line and what you see on WMR or IRS2Go.
The first batch of PATHers cleared are seeing a 02-22-2023 refund payment date on their transcript. This will mainly be for those getting paid via direct deposit.
This is great news for those seeing this, but there are many including those who filed in late January that are not seeing any movement. This could be because you are in a daily cycle and the IRS has not fully processed your return yet.
The above examples shows that the taxpayer will get their refund on 2/22 and 2/23 but the IRS also sent a notice (971) for some other information or auto-adjustments made.
See the next section, but updates should be coming for most “Pathers” in the next few days in line with major WMR and transcript update days.
Should I Be Worried If I don’t see any updates on my transcript (codes 570, 971, 420)
Not that if you don’t see 846 and other codes like 570, 971, 420 or 424 show up on your transcript after the processing date, it could mean that your return is under review and your refund will likely be delayed.
There is not much you can do, other than wait to see the IRS notice on what actions you may need to take. Often the IRS will automatically adjust payments based on their records, but if they send you a notice that requires action make sure respond promptly.
If you see N/A on your IRS account transcript section, it just means that IRS hasn’t started processing on your tax return. Your initial transcript should post between 1 and 3 weeks after e-filing. WMR and IRS2Go update after 24hrs.