when i get a notice saying my federal and state taxes have been "accepted" does that mean they are approved or does it just mean they have been received?

Just means that they have been received.  You can track progress at 

https://www.irs.gov/wheres-my-refund

If your taxes are Accepted it is a good thing.  

• It means that their were no technical errors like Social Security Numbers that were wrong.  
• It also means that TurboTax does not have any control of your  return.
• If you are being told that it's still in process, the IRS has not finished checking it out.

The IRS has stated that the typical time to process a tax return is 21 days, but there may be delays for many reasons.

TurboTax can only project the time to get your refund.  The IRS has the real control.

You can check the status of your tax return.  You will need:

• Social Security Number.
• Tax return year.
• Hilling Status.
• Exact refund amount

Please click here to enter your information  Check Your Refund .

If you wish to contact the IRS, you can call toll-free at 800-829-1040 

You can also Check your State Refund.

Be sure that your return status is Accepted

• It should not show Pending, or Rejected
• The return will also have to be processed.
• Therefore there may be a time delay between Accepted and issuing the refund.

Other reasons your refund can be delayed

• If you mailed your return and expect a refund, it could take four weeks or more to process your return.
• In addition some tax returns take longer to process than others for many reasons, including when a return:
  • Contains errors or is incomplete
  • Needs further review in general
  • Is affected by identity theft or fraud
  • Was referred to the IRS by the bank due to suspicious activity
  • Includes a claim filed for an Earned Income Tax Credit or an Additional Child Tax Credit. See Q&A below.
  • Includes a Form 8379, Injured Spouse Allocation, which could take up to 14 weeks to process
  • And I'm sure a host of other issues