What Day Of The Week Does The IRS Deposit Refunds?

Need your IRS refund in a hurry this year? You aren’t the only one. So, what day of the week does the IRS deposit refunds for taxpayers? Let’s take a look.

You can file your taxes two separate ways with the IRS. Mailing the return is the traditional method. The problem is it takes much longer than just e-filing your return. This is because the return has to be received and then processed. With tens of millions of returns coming in at the same time, that is not a quick process to say the least.

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E-filing tax returns is the latest craze and a good one. The information goes directly into the IRS computers. Once basic factors are checked like your math and such, the return is “accepted” and any refund due is kicked out. At that point, the IRS will either electronically deposit it in your bank account or mail a check to you. So, what day of the week does the IRS deposit refunds? The magic day is your favorite day of the week – Fridays. Here is the schedule for the 2010 tax season:

efile accepted between    Direct Deposit        Check Mailed
Jan 15 and Jan 21, 2010     Jan 29, 2010           Feb 5, 2010
Jan 21 and Jan 28, 2010     Feb 5, 2010            Feb 12, 2010
Jan 28 and Feb 4, 2010      Feb 12, 2010          Feb 19, 2010
Feb 4 and Feb 11, 2010     Feb 19, 2010          Feb 26, 2010
Feb 11 and Feb 18, 2010   Feb 26, 2010          Mar 5, 2010
Feb 18 and Feb 25, 2010   Mar 5, 2010            Mar 12, 2010
Feb 25 and Mar 4, 2010     Mar 12, 2010         Mar 19, 2010
Mar 4 and Mar 11, 2010    Mar 19, 2010          Mar 26, 2010
Mar 11 and Mar 18, 2010  Mar 26, 2010          Apr 2, 2010
Mar 18 and Mar 25, 2010  Apr 2, 2010            Apr 9, 2010
Mar 25 and Apr 1, 2010     Apr 9, 2010            Apr 16, 2010
Apr 1 and Apr 8, 2010       Apr 16, 2010          Apr 23, 2010
Apr 8 and Apr 15, 2010     Apr 23, 2010          Apr 30, 2010
Apr 15 and Apr 22, 2010    Apr 30, 2010         May 7, 2010
Apr 22 and Apr 29, 2010    May 7, 2010          May 14, 2010

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Importantly, this does not mean the money will show up in your bank account on a Friday if you choose direct deposit. That is the day it leaves the IRS. Depending on the quality of your bank, the deposit will show up either early or later the next week. Hopefully your bank doesn’t fail over the weekend!

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