Buying US Savings Bonds with your Tax Return

If you’re receiving a tax refund this year, the IRS reminds you that you can use it to buy U.S. savings bonds directly from the IRS. Here are the details.

 

* You may purchase up to $5,000 in U.S. Series I savings bonds.

 

* The total amount of bonds you purchase must be a multiple of $50. Any refund over the specified bond purchase amount can be deposited in your bank savings account, or you can request a check by mail.

 

* Bonds will be issued in your name. If you’re married and file a joint return, the bonds will be issued in the names of both spouses.

 

* The bonds will be sent to you by mail.

 

* You select this option when filing your 2013 return by using Form 8888, “Direct Deposit of Refund to More Than One Account.”

 

* Form 8888 gives instructions on selecting this option and specifying the amount of refund you want to use to buy savings bonds.

 

For additional information about Series I savings bonds, go to www.treasurydirect.gov.

 

Don’t squander away your precious time by struggling with complicated IRS forms and complex bookkeeping chores. You can get fast and effective solutions to all of your tax and accounting affairs when you employ Edith I Christian, CPA. We know how stressful your life can be. But when you call on us, you can relax a little bit.  Call today.

Edith Christian CPA
N9 W29360 Thames Road
Waukesha, WI 53188