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What's New: Consider this new way to use your tax refund
What's New: Consider this new way to use your tax refund

If you're receiving a tax refund this year, you can use it to buy U.S. savings bonds 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 must be deposited into another financial account, such as a checking or savings account.
  • 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 2009 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.


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