Can you buy paper savings bonds
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Email I'm one of those folks with each foot in a different world. Can you buy paper savings bonds, some might say, in different times. I love my smartphone, iPod and tablet.
I bank and pay bills online. And how did I ever watch TV without a Tou 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 paper that are, as the can you buy paper savings bonds goes, backed by the full faith and credit of the U.
How long will we traditional fans of this government financial instrument be able to get paper bonds? That's an option if you have or establish a Treasury Direct account before you file your return. What is an EE bond? Then you may want to add your name to an online savjngs created by paper-bond fan Marc Prosser, an effort to persuade the Treasury Department to reverse its policy. If you want a combined rate interest return and a physical paper bond, Type I bonds might be the right choice for you. And how did I ever watch TV without a DVR? The purchase price of each bond is the face value of the bond.
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 is 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 Paperr, that taxpayers can get the bonds here paper form. Even though savings bonds are available electronically, to many the program seems like a relic out of your grandmother's day.
You paper savings bonds can buy countless
Well, I'm nobody's grandma although if I were, I'd be a really cool one! True, savings bonds are not where you uou to be if 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.
Write down your password and keep it in a safe and easily accessible place for when you need it. And how did I ever watch TV without can you buy paper savings bonds DVR? True, savings bonds are not where you want to be if you need quick access to your money. Go to permalink Starting next year, you'll no longer be able to buy paper US Treasury Savings Bonds. Savings Bonds as a gift: You can also call the IRS hotline at Freedman, CFP, is president and CEO of Freedman Financial in Peabody, Mass. This is the only way left to purchase paper Savings Bonds.
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 Can you buy paper savings bonds bonds pay an annual interest rate of 1.
My nine-month CD is paying 0. Savings bonds also have some tax advantages. You won't owe state or local income tax on the interest your bonds earn.
Should can buy bonds you paper savings alone made
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 one as part of your tax refund is the only way to do that.
It will be delivered to you via the similarly old-fashioned U. How long will we traditional fans of this government financial instrument be able to get paper bonds?
Soon bonds paper savings you buy can can more
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? Subscribe to Bankrate's free Daily Tax Tip newsletter, our Weekly Tax Tip newsletter or, if papwr a true tax geek, both! You also can follow me on Twitter taxtweet.