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The IRS has updated tax transcripts, showing a processing date known as a cycle code. This code indicates when your tax return will be posted in the IRS master file, giving a clue to expect a refund. Understanding the cycle code is important, as it is not a simple date format. For example, 2022 0705 signifies the 7th week and 5th day of that week in 2022. A cycle code ending in 05 means weekly updates. Direct deposit dates can also be seen in tax transcripts before the "Where's My Refund" page, once the IRS code 846 appears, showing the amount funded.