I’ve written in the past about the new Series I Savings Bond purchase limits and the fact that paper bonds have (mostly) gone away. I’ve also mentioned a possible strategy for getting extra (and paper, no less) savings bonds when you file your taxes — assuming that you’re getting a refund.
In short, this strategy involves overpaying your taxes and then requesting up to $5k of your refund in the form of I Bonds. In order to do this without giving the government a lengthy interest-free loan, I’ve decided to file an extension and send in an overpayment with along with IRS Form 4868.
As soon as that payment clears, I’ll file our return and request the refund in the form of a Series I Savings Bond, thereby allowing us to circumvent the nominal purchase limits. Just keep in mind that you can ask for a max of $5k in bonds even if you’re married and filing jointly.
Admittedly, our situation is somewhat unique in that we’ve already maxed out our bond purchases for the year and are looking for more. But if you’re in a similar situation, this is a pretty easy trick to score an extra $5k in bonds.