Split Refunds and Purchasing Savings Bonds

You have several options for choosing how to receive your 2011 federal income tax refunds. You can split the refund three ways when you file your tax return. You can put some of it in your checking account, some in your savings account, or some in other accounts, such as an individual retirement arrangement -- also known as an IRA. And now, you can use your refund to buy U.S. Savings Bonds.

So, if you e-file choose direct deposit and when your tax software or your preparer asks if you want to split your refund, you have the option to split your refund or buy your savings bonds.

If you file by paper, use Form 8888, follow the instructions on the form to complete it and attach it to your return. Click here for Form 8888, Allocation of Refund including Savings Bonds Purchases.



Page Last Reviewed or Updated: 12-Jun-2014