I should have had an I-Bond issued to me in October 2021 when rates were high 8-9%. Instead the IRS gave me interest of $180 for holding onto my $5,000 refund for 18 months, which is taxable.
Current I-Bonds are getting 6.7% ... but that rate ends April 27. I suspect the new 6 month rate will be lower than that as inflation is falling. You can get Savings account rates close to 5% now. I locked into 12 month CDs at 6% and 7%. so it might not be worth the hassle of trying to get the IRS to fix their mistake. I would do it if you can hold onto your refund, but if they tell you to return the check back to the IRS, count on them holding onto your refund for months getting zero interest.
