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Does anyone know what time the IRS releases their funds or is it all day or overnight?

Asked by: 702 views Finance - Taxes

I know I have to wait for my bank to process the payment and all that but I’m just wondering when the IRS will approve the transfer.

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3 Answers

  1. Bash Limpbutt's Oozing Cyst© on Jan 31, 2012 reply

    The newer MeF system kicks out refunds around the clock, 7 days a week, including on holidays. The older CADE system kicks out batches of refunds on Thursday evenings.

    All refunds are sent to FMS by the IRS. FMS transmits the actual refunds, either by ACH transfer to your bank or cuts the paper checks to be mailed out. The FMS systems run 24 x 7 x 365. Therefore a return processed by MeF could show up in your bank at any time of day or night.

    When the funds are made available to you by your bank depends upon their posting procedures. Some banks batch process so all deposits are available at the beginning of the next banking day. (Banking days generally close at 3:00 PM so anything arriving after that would be posted on the 2nd day.) Many banks post in real time and those funds would be available within a few hours at most after they arrive at the bank.

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  2. Linda R on Jan 31, 2012 reply

    When they’re ready to.

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  3. single_softthicklady_xx on Jan 31, 2012 reply

    That’s a good question and @Bash nice response

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