Oliver Kearney, 21, and John Swords, 22, had been out celebrating the christening of Mr Swords’s daughter.
The were on their way back to Mr Swords’s house having received a message that it may have been broken into.
Gardaí have since found that a window at the house was broken, but no entry was gained.
They were killed instantly when their car hit a wall at Knocklong parish church at about 1.45am on Sunday.
The two were best friends having grown up as neighbours at Galtee View, Hospital.
Earlier on the night of the accident they had been attending a party in Hospital to celebrate the christening of Mr Swords’s daughter, Alex.
It is believed that Oliver Kearney, who did not drink, offered to drive John Swords to his house after he got the message and en route their Honda Civic went out of control.
The funeral will take place today of Oliver Kearney after 11.30am Mass at John the Baptist parish church in Hospital.
The funeral of John Swords will take place tomorrow.
Mr Swords and his partner, Nicki O’Sullivan, had left their house near Knocklong earlier in the day for the christening of their daughter Alex.
School principal, Jim Twohig said: “As a school community we are shocked and numbed at the tragic loss of life of two young men. Both are past students and both their mothers are staff members. All in John the Baptist Community School offer our heart felt condolences to the families and friends at this time.”
Meanwhile, gardaí in Nenagh are waiting to take statements from the two survivors of the New Year’s Eve accident near the town which claimed the lives of three teenage boys.
Stuart Donnellan, 14, from Cormack Drive, Nenagh; Padraig Bourke, 16, Silvermines and Adrian O’Brien, 17, Newtown died in the accident after an Opel Corsa bought for about €200 went off the road at Kilboy, Dolla and hit a tree.
Thomas Clarke, 16, from Silvermines and Kelsey Tiernan, 15, from Portroe, survived with serious injuries.
Gardaí plan to interview them once their medical conditions permit.