Here are the top six things you'll need to know about using your federal refund to purchase savings bonds.
- You may use a portion of your refund to purchase up to $5,000 in U.S. Series I Savings Bonds.
- 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.