Savings Bonds Are Back in Style

Michele Knight, CPA — Wed, 11 Nov 2009 03:56:25 +0000

New this year, the IRS is adding yet another option for getting your tax refund. In addition to a paper check (which I NEVER recommend), direct deposit to a checking or savings account, and making an IRA contribution, this year you will also be allowed to purchase U.S. Savings Bonds. These Series I Savings Bond can be purchased in increments of $50, $100, $200, $500, and $1,000, but cannot be redeemed for 12 months after you receive them. And, if redeemed within the first five years, the three most recent months’ interest will be forfeited. While you can only have Savings Bonds issued in your own name during the 2010 filing system, you will be able to add co-owners, such as child and grandchildren in the future.

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Savings Bonds Are Back in Style