Can i still buy paper bonds
Email I'm one of those folks with each foot in a different world. Or, some might say, in different times.
Had paper can bonds still i buy moving removing
I love my smartphone, iPod and tablet. I bank and pay bills online. And how did I ever watch TV without a DVR? But I still read "real" books. I don't use my smartphone to text. And I have a batch of savings bonds in my safety deposit box. Yes, a real stack of real pieces of can i still buy paper bonds that are, as bomds saying goes, backed by the full faith and credit of the U. It's not easy to get actual savings bonds anymore. You used to be able to purchase them at financial institutions or, as I did, collect them via a workplace purchase plan.
The Internal Revenue Service, however, is there for us old-school savings bond fans. This can i still buy paper bonds the fifth tax-filing season that we've been able to buy bonds with our tax refunds. It's the fourth year, notes U. Treasury spokesman Jerry Kelly, that taxpayers can get the bonds in paper form. Even though savings bonds are available electronically, to many the program seems like a relic out of your grandmother's day.
Well, I'm nobody's grandma although if I were, I'd be a really cool read article True, savings bonds are not where you want to be paoer you need quick access to your money. To get the full benefit of the earnings, you need to hold them for at least five years.
But if you want to stash cash for a longer-term goal, the interest rate on Series I savings bondsso named because one of the bond's components is an interest rate that is adjusted every six months for inflation, is appealing. Right now I bonds pay an annual interest rate of 1. My nine-month CD is paying 0.
At the federal level, tax is deferred until you redeem the bonds. Photo by Michael Kelley. We also covered the process, as well as how to figure papeer their value, in a post back in Feb So announce your savings bond gift with a gift certificate. EE bonds issued since May earn a fixed rate of interest. Why is the government allowing this loophole? United States citizen, whether you live in the U.
Savings bonds also buj some tax advantages. You won't owe state or local income tax on the interest your bonds earn. At the federal level, tax is deferred until you redeem the bonds. And if you use the bonds to pay for college, the interest could be totally tax-exempt. These are some of the reasons why I have some company in my savings bond fan club.
That's an option if you have or establish a Treasury Direct account before you file your return. But if you want to hold a paper bond in your hand, then getting can i still buy paper bonds as part of your tax refund is the only way to do that. It will be delivered to you via the stikl old-fashioned U. How long will we traditional fans of this government financial instrument be able to get paper bonds?
Much can still bonds paper can i buy our attitude
In coming years, we old-school savings bond fans are likely to find we've been pushed totally into the electronic age. Want the latest news on taxes, tax reform prospects, filing deadlines, Internal Revenue Service alerts and tax-saving tips?
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