Many people have already discovered this great new way to save. What is it you may ask? Tax time is a great time to save because many people receive refunds. In 2010 President Obama created the tax time Savings Bond Program. The program gives tax payers the opportunity to put away part of their refunds into a U.S. Savings Bond.
The process is as easy as checking a box on your return. Those filing paper returns can fill out Form 8888 Allocation of Refund (Including Savings Bond Purchases). Tax time savings bonds can be purchased in any amount from $50 to $5,000 and up to three bonds can be purchased.
Some of the main reasons for saving using the savings bonds include:
- · The bonds are safe and secure.
- · They never lose value.
- · You can earn interest for 30 years.
- · There are never any fees or charges.
- · After one year, you can redeem them at a bank or credit union.
More information can be obtained by visiting the Treasury Direct page.