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Filing Season Form 8888 and Series I Savings Bonds

Filing Season Form 8888 and Series I Savings Bonds

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Instructions and help about treasury direct deposit form

Taxes and Savings Laura Connerly - Family Financial Management The IRS is making it easier for tax filers to save money. New for 2011, consumers can use part of their tax refund to buy Series I Savings Bonds. Theese are low-risk savings bonds available from the U.S. Department of Treasury. Bonds can be purchased in $50 increments. Tax filers can purchase up to $5,000 worth of bonds. These can be purchased in the tax filer's name or you can purchase them for someone else - say a child or friend. You can also designate a co-owner or a beneficiary. To purchase the bonds you need to file form 8888. Now, this is the same form that we used before for direct deposit. You'll be able to split your tax refund between the Series I bonds and direct deposit. And, additionally, you can designate Direct deposit for up to 3 accounts - those can be savings and/or checking accounts. It's a good idea to plan to save at least part of your tax refund. A good savings account can help you prepare for emergen

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