IRS Refund Dates - for 2010 Tax Year, filed in 2011?

Question

This will be the first of many questions for January 2011, and the 2010 Tax Year Refunds. It is clear (via TurboTax) that  basic tax forms can be e-filed starting on January 6, 2011. My question is, has anyone heard of or found the new updated Refund Cycle Chart? I have already seen the one at the IRS website, but it is outdated. I read in an article that they (the IRS) were going to attempt to deposit refunds 10 days after acceptance. The IRS is doing this in hopes to reduce the number of RAL and RAC. Any news would be appreciated. Thanks!

And before anything is said, I know that this is free money, and we should not get excited, but hey, we all like to plan for a little financial freedom, and these refunds really allow for that, so please no negative comments.

StayAtHomeMomOnTheGo · Accepted Answer

http://www.irs.gov/pub/irs-pdf/p2043.pdf

Depending on when your return is accepted, any refund could be issued as long as two weeks later or as soon as eight days later.  

The IRS will not begin accepting returns until January 14.  I do not care what Turbo Tax is telling you, I would not believe that over the IRS.  The IRS is clear on THEIR schedule, and from my experience in past years they have been right on schedule.  You can file now, using Turbo Tax or another preparer, but it will not be transmitted or processed prior to January 14.

? · Answer

I am a Turbo Tax user as well and have already started on my return with Turbo Tax and I see where it says January 6th but on the IRS website says they will begin accepting returns on Jan. 14 so I would go buy the IRS date.  I believe the earliest the first checks will be deposited will be Jan. 28th because it is usually the last Friday of Jan. for the first batch accepted.   I am looking forward to my tax refund to but it will most likely be the end of Jan. before we see it so we just have to wait another month.

tro · Answer

the companies that are efiling for you may be accepting the work Jan. 6 but for at least the first 10 days of Jan. IRS is computer housecleaning and not accepting any tax returns, and the 15th is a national holiday so likely very little will be processed prior to the 16th
as well, due to the lateness of Congress there are many tax returns that will not even be accepted until mid Feb.
efiling usually is a possible two week window for a refund, manual is generally 6 to 8 weeks but if there is not a huge influx of returns early, they can be as quick as two weeks as well
if you want latest on IRS, http://www.twitter.com/IRSNews is the place to go

Anonymous · Answer

I seriously doubt you will receive your refund before Jan 28th, no matter how early you file

the last Friday in January is the earliest I have ever gotten it and that was when I filed on the first day of processing

Bostonian In MO · Answer

Sorry, but you are mis-informed.  The IRS starts accepting e-filed returns on Jan 14th.  Some EROs may start queuing them on their systems prior to that and dump them on the IRS systems on Jan 14th.  This is pretty common practice actually, and often causes problems for individual taxpayers who are preparing and e-filing their own returns as the EROs are busy pumping returns to the IRS.  This also impacts smaller "mom-and-pop" EROs as they cannot connect to the IRS systems.

This is the official IRS refund cycle chart:  http://www.irs.gov/pub/irs-pdf/p2043.pdf .  What TT decides to do is up to Intuit and does not obligate the IRS in any way.

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IRS Refund Dates - for 2010 Tax Year, filed in 2011?

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