Refund has been processed means that they have approved and are ready to send you your refund. Your return being processed mean that your tax return is being processed. Your status should change from being processed to accepted and then a date given for your refund.

If your tax return status is “Still Being Processed” your tax return could be essentially on hold until the IRS corrects any issues and/or gets the additional information from you to continue processing your return.

The IRS says: It should take 21 days to issue a refund once it has been processed. If it has been longer than this, several factors may be holding it up.

A refund date will be provided when available.” Exactly mean? After the tax return has been Accepted by the IRS (meaning only that they received the return) it will be in the Processing mode until the tax refund has been Approved and then an Issue Date will be available on the IRS website.

152, means that some tax returns may require further review and could take longer. Different factors can impact the processing time of your refund, however, an IRS representative will be able to access your return and provide insight into why your return may be delaying. Please click here for IRS contact information.

“Being processed”, means the IRS must first process your return and then approve your refund. Even though the IRS issues most refunds in less than 21 days after they receive your tax return, it’s possible your tax return may require additional review and take longer.

It means the IRS has your tax return and they are still working on it. It has not yet been approved and you do not yet have a deposit date. The IRS is in control.

It will not. The IRS tool “where is my refund” will give you a more accurate date of when you will receive your refund. If you don’t have access to the internet then you can call the “where is my refund” hotline at (800) 829-1954.

Your refund should come on the date specified by the IRS but it can bee sooner or a little later due to your financial institution.

Some banks post deposits at midnight, others do not post deposits until the bank is open. Also depending on your bank, it can be 1-5 days processing time from when the IRS or state states the refund has been sent.

Normally they sent to your bank between 12am and 1am. That does not mean it will go directly into your bank account. You bank can take up to 5 days to deposit it but normally it only takes a few hours.

On average, direct deposit usually takes one to three business days to clear. The process is fast, but the actual time frame for the funds to hit your account depends on when the issuer initiates the payment. Several other factors can also cause delays.

So if you pay employees with direct deposit, you might be wondering, Will direct deposit go through on a holiday? In short, the answer is no. The ACH only processes direct deposit transfers Monday – Friday. When payday falls on a bank holiday, employees’ direct deposits are delayed a day.

To check the status of your direct deposit:

1. Click your company name at the top right, and then click Payroll Settings.
2. Click Direct Deposit under Payroll and Services.
3. Look in the Action column in the Employer Info box. If you see Active, it means your direct deposit is all set up and ready to go.

MYTH: Direct Deposits aren’t processed on weekends, but bill payments are. FACT: The ACH Network does not settle payments on weekends (or holidays) when the Federal Reserve system is closed. MYTH: If payday is on a Friday, you won’t get your money until Monday (or later if Monday is a holiday).

When it’s a Saturday or Sunday If the normal pay date falls on Sunday, you should typically pay on the following Monday. There is no law stating that you should do this, but it is generally considered normal business practice.

Banks generally won’t process payments to accounts at other banks over weekends or on public holidays. Payments made on a non-business day will be processed the next business day. Also, if you set up a payment late in the day, the bank will generally send your payment the next business day.

Can a bank release a pending deposit early? Some banks can release a pending deposit early for a fee if you ask them. This will only generally apply to deposits that are likely to be authorized, such as a payroll check from your employer.

Do Pending Transactions Mean They Went Through or Posted Successfully and are Fully Cleared? Absolutely not. Pending transactions mean exactly what the name implies. But they won’t become fully effective until they are submitted by the merchant, and have fully cleared your account.

You might want to wait before you start spending. Just because you see the balance in your account doesn’t mean that it is yours yet. A deposit that is pending in your account can’t be used until it’s completely cleared and is sitting in your bank balance.

You may want to contact your banking institution as soon as possible and ask them to process a stop payment on the funds transfer. Alternatively, once your deposit has passed the 5 business day clearing period, you can initiate a withdrawal of your funds back to your bank account.