Invest your 2009 Tax Return
The IRS is offering an investment option if you are getting a refund for your 2009 taxes this year. You can transfer your tax refund for a US savings bond of up to $5,000. You can purchase a bond in any denomination of $50, remaining funds need to be directly deposited into a banking account.
It’s just that simple, when you file choose the US Savings Bond option and you will receive your bonds in the mail instead of a refund check. The official form is Form 8888, used to deposit your refund into more than one account. Tax preparation software packages like TurboTax and TaxAct provide the form for you when you indicate that you want to purchase one of the bonds.
The Form 8888 also has instructions if you are completing for the form by hand. This is a nice option if you would be investing the money into a savings account as the bonds provide a better rate of return on average.