Questions related to tax refunds explode about a month after the tax season starts. Plenty of specific questions usually gets left unanswered, like the time when the IRS deposits tax refunds. If you’re in a hurry, it’s expected to ask these sorts of questions.
Luckily, this article will let you know everything you need to know about at what time the IRS deposits tax refunds.
The time to expect your tax refund
While the date you’ll get your tax refund is different for everyone, the time isn’t. The Internal Revenue Service has specific times for many of its functions. For example, the agency usually updates the Where’s My Refund tool results at midnight. If you’re expecting an update from the IRS, that’s why it’s pointless to check the status every passing hour, as you won’t get any changes.
The time is also similar for depositing tax refunds. The agency deposits tax refunds usually at midnight, around 1 AM. After the IRS deposits your refund, you’ll see it in your bank account in a few hours or so. However, take this with a grain of salt. The wait time can take up to five business days, and this primarily comes down to your bank.
Nevertheless, it’s next to impossible to wait for that long for your bank to process that – expect it to have access to the funds the same day.
The IRS deposits tax refunds at midnight, usually between 12 and 1 AM. Once your refund is deposited, you’ll have it the same day.