Get better values. Find better work. Build a better future. AND have fun doing it! Get your own copy of The Quarter Roll today!
The Quarter Roll Financial Entertainment

  The Quarter Roll magazine is the only magazine that provides financial entertainment.  quarter roll quarter roll The Quarter Roll is a free magazine about everyday personal finance.   the quarter roll

Home Coupons Archived Issues Job Fairs Health Fairs True Stories Financial Trivia Unemployment

Get savings bonds with your tax refund.

The Internal Revenue Service announced on their website that the average tax refund in 2011 will be $3,070.00, down just $12.00 from last year's average.

Again this year, you have several options when it comes to receiving your tax refund. You can get it directly deposited into your bank account, mutual fund, or retirement account. You can also have your tax refund sent to you in the form of Series I savings bonds. These bonds are mailed to you. The IRS noted that one change for this program in 2011 is that you can now list a co-owner or beneficiary on your savings bonds, or  you can even list someone else as the owner of the savings bond. Perhaps, you want to give the savings bond to a child or family member.

If Superman, The Lone Ranger, Lassie, and John Wayne buy savings bonds, why wouldn't you??

Not sure what a Series I savings bond is? In a February blog entry it is explained this way, "Series I bonds are available at face value only. Series I bonds come in $50 to $10,000 denominations. No more than $30,000 (face value) of paper bonds and $30,000 of electronic bonds purchased each year. They must be held for a minimum of 1 year and they will accrue interest for 30 years. Interest on the Series I bonds is based on a fixed rate (announced by the Bureau of Public Debt in May of each year) and an annual inflation rate (announced in November of each year).

Interest is paid when the bond is redeemed. If this happens before the bond is five years old, there is an interest penalty equivalent to the three most recent month's interest. Interest is not subject to State and local taxes. It is, however, subject to State and local estate, gift and other excise taxes. Interest on the bonds is also subject to Federal taxes. If the bonds are used to finance an education, all the interest or only part may be excluded from federal income taxes."

Don't want to use all of your refund for savings bonds? The IRS says to use Form 8888 to split your refund and direct where each amount should go.

The Quarter Roll is published to provide personal insights and opinions on everyday ways of saving and managing money, budgeting, and reducing debt. The Quarter Roll does not give professional accounting, legal, or investing counsel. The ideas, examples, and advice presented on this site are solely the opinion of the authors based on his or her personal experiences. All photos courtesy of The Quarter Roll, iStockphoto, or Dreamstime. All rights reserved. This site is best viewed when using Adobe Flash Player. free money magazine