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Level 3
posted May 19, 2022 1:11:49 PM

I chose to put $5k of personal income tax refund into iBond, but IRS deposited the full refund amount in my bank.

Hi, I E-filed my 2021 personal income tax with TurboTax and chose to use $5k of the refund for purchasing iBond. Yesterday IRS deposited the full refund amount in my bank, without deducting the $5k. Is this normal? Did IRS ignore my iBond purchase selection? Thanks for your help!

0 3 553
3 Replies
Level 15
May 19, 2022 2:18:24 PM

Other people have had the same experience this year. I don't know why the IRS is overlooking the bond purchases.

 

@SweetieJean, who is a frequent contributor to this forum, had the same problem. She might have some additional comment.

 

Level 15
May 20, 2022 4:22:02 AM

I ended up contacting the Taxpayer Advocate, who sent me a (form letter) reply that said they would look into it.  You might wish to do the same.  If so, I suggest you do so by fax.  I will keep everyone posted.

Home - Taxpayer Advocate Service (TAS) - Taxpayer Advocate Service (irs.gov)

Level 3
May 20, 2022 2:17:49 PM

Thank you very much for that information! I'll try contacting them too and keep this thread updated.