Buy Savings Bonds with your Federal Tax Refund - John R. Dundon II, Enrolled Agent
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Buy Savings Bonds with your Federal Tax Refund

Buy Savings Bonds with your Federal Tax Refund

If you are receiving a federal tax refund from the Internal Revenue Service, you can choose to use that money to purchase U.S. savings bonds.

  • You may use a portion of your refund to purchase up to $5,000 in U.S. Series I Savings Bonds.

  • The total amount of saving bonds purchased must be a multiple of $50. Additional money over the specified amount must be deposited into another financial account – such as a checking or savings account.

  • The bonds will be issued in your name. For married taxpayers filing a joint return, the bonds will be issued in the names of both spouses.

  • You will receive the U.S. savings bonds in the mail.

  • You normally select this option by filing Form 8888, Direct Deposit of Refund to More Than One Account.

  • Form 8888 has step-by-step instructions on how to select this option and how to specify the amount of your refund you want to use to purchase savings bonds.

Links:
1040 Central
Form 8888, Direct Deposit of Refund to More than One Account



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