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Reciba su reembolso de impuestos como un bono de ahorro

Receive Your Tax Refund as a Savings Bond

Wondering what exactly to do with your tax refund? Instead of blowing it on a nice dinner or just letting it sit in your bank account, why not receive your tax refund as a savings bond?

Starting in January, the IRS allowed taxpayers to buy US Savings Bonds with a portion or the entirety of their tax refund. You can buy them for yourself or for anyone of your choosing.

Why Savings Bonds?
Savings bonds are, in a nutshell, debt securities the U.S. government uses to pay for their borrowing needs. They are considered one of the safest ways to invest your money because they accrue interest but are backed by the full faith and credit of the U.S. government. They also provide a tax advantage in that they are exempt from state and local taxes and taxpayers can choose to defer paying federal tax on earnings from bonds until they are cashed out. If you’re looking for a way to invest while helping Uncle Sam out, savings bonds may be the way to go.

How To Do It
It’s amazingly easy to buy savings bonds with your tax refund money. If you used a tax preparation service, or went through an accountant, simply tell them you want to buy savings bonds with your money. They’ll lead you through the process.

If you prepared your forms yourself, then you’ll need Tax Form 8888. This is the Allocation of Refund form. Follow the instructions to transfer your money to savings bonds.

There are of course a few rules to abide by when purchasing these savings bonds with your refund money. In any single calendar year, you can purchase up to $5,000 of these bonds under the program. Also, the amount you buy must be divisible by 50.

You will receive the bonds after you receive the remainder of your tax refund from the IRS. Since you can only request bonds divisible by 50, there’s bound to be some amount left over. The IRS will process this remainder first then submit the request to the Treasure Retail Securities Site.

It will then take up to three weeks to send your bonds to you at the address on your return. If you would like to ask about the status of your bonds, you can call the at 1-800-245-2804.

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