Obtained EFT deposit of federal refund earlier today. However, I filed IRS Form 8888 to purchase I-Bonds with part of my refund and this did not occur. I reviewed my 2021 TT file [online Premier] and the Form 8888 is there with the split refund between my credit union account and I-Bond purchase requested. 100% of refund was deposited in my credit union account.
1- Is there any way to correct this apparent error by IRS?
2- Has Treasury Department made an official announcement curtailing the I-Bond purchase program and I missed the memo?
3- My spouse and I made separate purchases of I-bonds earlier in 2021 to the $10K per year per person maximum. I believed I-Bond tax refund purchase was a permitted method to exceed $10K per year per person maximum. Anyone with I-Bond program expertise able to validate this idea?
Thanks in advance to community members and TT staff for your consideration.
