Does refund being processed mean approved?
"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.
Return Received – The IRS has received your return and it's being processed. Refund Approved – They've processed your return and your refund has been approved. It will also provide an actual refund date. Refund Sent – Your refund has been sent to your bank for direct deposit or a paper check has been mailed.
Refund processed means company has completed the process and the amount has been transferred to your payment source. Now it depends on your bank to credit the amount usually 1–3 days. So, you should wait till status as “Refund processed”.
If your refund details state that it's still processing, you can check your tax return to see if you catch any errors. If your refund status instructs you to contact the IRS, you can speak to an agent to get clarification by calling 1-800-829-1040.
You can also check the status of your refund on your smartphone by downloading the IRS' mobile app, IRS2go, or by calling the agency's automated refund hotline at 800-829-1954.
The IRS issues more than 9 out of 10 refunds in less than 21 days. However, it's possible your tax return may require additional review and take longer.
“Being processed” means that whatever you are expecting is being processed or is under review. Meaning someone is looking into it. “Approved” on the other hand indicates the end of the process.
If a taxpayer receives the status update that their tax return was accepted but not approved, this means that the IRS has received their tax return, but they have not yet evaluated the information.
If the bank says a transaction has been processed, that can mean that it has been authorized and authenticated but not yet settled - meaning, the seller may not see the funds in their account yet.
An incomplete return, an inaccurate return, an amended return, tax fraud, claiming tax credits, owing certain debts for which the government can take part or all of your refund, and sending your refund to the wrong bank due to an incorrect routing number are all reasons that a tax refund can be delayed.
What does still being processed mean with tax Topic 152?
While the IRS processes most refunds within 21 days, seeing Tax Topic 152 could mean your return needs further review, potentially extending the processing time. The exact timing will vary depending on individual return details.
If their refund status changes from “being processed” status to “still being processed” status, the issue detected in the tax forms was likely resolved and the refund may be released when it is approved for a future cycle date.
Refund Approved – We approved your refund and are preparing to issue it by the date shown. Refund Sent – We sent the refund to your bank or to you in the mail. It may take 5 days for it to show in your bank account or several weeks for your check to arrive in the mail.
Taxpayers should make IRS.gov their first stop to get information on filing a tax return. There is information on Choosing a tax professional, IRS Free File, Answers to tax questions and Tips on filing a return. Taxpayers who file electronically and choose direct deposit typically get their refund in less than 21 days.
What days of the week can I receive my refund? The exact day of the week that the IRS will deposit your refund into your account can vary, but they usually send the refund on every business day, from Monday to Friday.
After you verify your identity and tax return information using this service, it may take up to nine weeks to complete the processing of the return. Visit Where's My Refund? or use the IRS2Go mobile app 2-3 weeks after using this service to check your refund status.
That has completed a required process. The processed data can now be used to generate statistics. The bank returned her processed application by mail. Wiktionary. Modified through manufacture such as refinement or food processing.
Typically, the IRS issues tax refunds in three weeks or 21 calendar days. If your refund is late and the IRS' Where's My Refund? tool says “Your return is being processed,” it might be worth a call to the IRS.
No, once the IRS accepts the return, it will not be rejected after. However, they may request additional information from you at any time. If you have received notice that the IRS accepted your return, you can be confident they have it, though that does not always mean they have processed it yet.
It means that the payment has been initiated but has not yet been completed. The transaction is in the process of being authorized, cleared, or settled. Depending on the payment method and system, the processing time may vary, but it usually takes a few seconds to a few hours.
What does processed status mean?
Processed Status means that an Order has been submitted to the Website and payment has been received.
Keep in mind this tax topic doesn't mean you made a mistake or did anything wrong when filing. It simply means your return is being processed and has yet to be approved or rejected.
But, if you've seen Tax Topic 152, your refund will likely take longer than 21 days to process. It doesn't mean you've done anything wrong or you won't get your refund. It's just an indication that your return is still being processed and has yet to be accepted or rejected.
If you receive a notice from the IRS titled “Tax Topic 152“, don't worry; it's not bad. It simply means that the IRS processes your tax return, and you will receive a refund. Taxpayers who have filed their tax returns and are waiting for their refunds will receive a notice.
| Date Return E-Filed | Date Direct Deposit Sent | Date Paper Check Mailed |
|---|---|---|
| March 25 | April 51 | April 121 |
| April 1 | April 121 | April 191 |
| April 8 | April 191 | April 261 |
| April 15 (Filing Deadline) | April 26 | May 1 |
References
- https://www.lawinsider.com/dictionary/processed-status
- https://pay.com/blog/payment-processing-work
- https://turbotax.intuit.com/tax-tips/tax-refund/tax-topic-152-will-i-still-get-my-tax-refund/L0Ma47g22
- https://www.taxslayer.com/blog/when-will-i-get-my-tax-refund-tax-topic-152-and-tax-topic-303/
- https://www.irs.gov/newsroom/tax-time-guide-irs-enhances-wheres-my-refund-tool-for-2024-filing-season
- https://www.wiztax.com/blog/irs-rejected-return-what-do-i-do/
- https://www.irs.gov/refunds/what-to-expect-for-refunds-this-year
- https://www.idealtax.com/return-being-processed-meaning/
- https://www.investopedia.com/taxes/7-reasons-why-you-havent-received-your-tax-refund/
- https://www.quora.com/What-does-payout-has-been-processed-mean
- https://www.irs.gov/identity-theft-fraud-scams/identity-and-tax-return-verification-service
- https://www.acorns.com/learn/earning/irs-refund-tracker-your-tax-return-is-still-being-processed/
- https://turbotax.intuit.com/tax-tips/tax-refund/top-reasons-your-tax-refund-could-be-delayed/L6BcbuGwO
- https://www.nerdwallet.com/article/taxes/track-my-refund
- https://www.xoatax.com/tax-topic-152/
- https://www.idealtax.com/irs-accepted-return-not-approved/
- https://en.as.com/latest_news/irs-what-days-of-the-week-are-tax-refunds-paid-n/
- https://skfinancial.com/blog/tax-topic-152
- https://www.irs.gov/wheres-my-refund
- https://www.webce.com/blog/2024-irs-tax-refund-schedule
- https://www.quora.com/What-does-processed-your-refund-mean-I-returned-a-product-in-Myntra-and-now-have-received-a-message-that-says-we-have-processed-your-refund-but-my-bank-did-not-receive-any-amount
- https://www.eztaxreturn.com/blog/what-does-your-return-is-being-processed-mean/
- https://www.yourdictionary.com/processed
- https://www.quora.com/Does-being-processed-mean-approved
