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The Tax Season 2009 Savings Bond Pilot

The Tax Season 2009 Savings Bond Pilot

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Published by Sarika Abbi
http://bondsmakeiteasy.org For several years, Doorways to Dreams (D2D) Fund has tested strategies to help lower-income working people direct part of their annual tax refunds to savings. During tax season 2009, D2D and partners around the country offered nearly 40,000 tax filers a chance to buy a U.S. Savings Bond with part of their refunds.The findings from the study point to the unique power of U.S. Savings Bonds to re-energize America’s historical orientation toward thrift and to help all Americans participate in saving as a hedge against crises and a resource to enable strategic investments, like a home purchase or college education.
http://bondsmakeiteasy.org For several years, Doorways to Dreams (D2D) Fund has tested strategies to help lower-income working people direct part of their annual tax refunds to savings. During tax season 2009, D2D and partners around the country offered nearly 40,000 tax filers a chance to buy a U.S. Savings Bond with part of their refunds.The findings from the study point to the unique power of U.S. Savings Bonds to re-energize America’s historical orientation toward thrift and to help all Americans participate in saving as a hedge against crises and a resource to enable strategic investments, like a home purchase or college education.

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Published by: Sarika Abbi on Dec 01, 2010
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01/29/2011

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Yes We Can: InClusIve savIng at tax tIme
 The Tax Season 2009 Savings Bond Pilot
D2D
 
FUND
 
Y W C:Ici si  t ti
2
Table of Contents
Page 2Executive Summary Page 3Chapter One, Saving: The Cornerstone o SuccessPage 10Chapter Two, The Tax Season 2009 Pilot - How it Worked, What we LearnedPage 18Chapter Three, The UpshotPage 22AppendicesPage 31Endnotes
Copyright 2009, D2D Fund, Inc.
 
Y W C:Ici si  t ti
3
On car sson rom th rcnt conomic crisis isthat saing mattrs. As th conomy has dtrio-ratd and rcord numbrs o Amricans ha ostthir homs to orcosur, storis ha mutiid o amiis who ha not had aduat saings to ro-tct thm rom job osss or stbacs, much ss buyhoms or ay or cog, without rying on incras-ingy scarc sourcs o crdit. Going orward, th na-tiona agnda must incud masurs to h us gtour inancia hous in ordr; on crucia asct wi bto h a Amricans start saing again.For sra yars, Doorways to Drams (D2D) Fundhas tstd stratgis to h owr-incom wor-ing o dirct art o thir annua ta runds tosaings. During ta sason 2009, D2D and artnrsaround th country ord nary 40,000 ta irs achanc to buy a U.S. Saings Bond with art o thirrunds.
 2009 Pilot Findings
 This ar rorts th 2009 iot rsuts, as was rsuts rom two rcding ta sasons. Amongth most imortant fndings, owr incom tarund rciints:
- Like, trust and want to buy savings bonds,
-
especially for their children- Do not generally know where or how to
-
buy them- Once they buy a bond, are likely to do so
-
again- Are likely to hold on to bonds they
-
purchase for the long term- Are more likely to buy paper savings
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bonds than buy bonds online
 Ths indings oint to th uniu owr o U.S. Sa-ings Bonds to r-nrgi Amrica’s historica orinta-tion toward thrit and to h a Amricans articiatin saing as a hdg against criss and a rsourc tonab stratgic instmnts, i a hom urchas orcog ducation. Th highst-imact, most cost-cti way to cai-tai on th wor rortd in this ar is to rturn asaings bond urchas otion to th dra ta iingrocss (as was th cas in th 1960s). Sciicay,th currnt IRS sit rund orm, Form 8888, shoudb modiid to aow ta irs cting a rund toordr saings bonds. This chang woud ac atrustd, scur saing roduct within asy rach o miions o owr and modrat incom rund rcii-nts at th on tim o th yar whn thy ar mostab to sa.D2D ads th Saings Bond Woring Grou (SBWG),a coaition o nationa and oca organiations whoshar a bi that U.S. Saings Bonds ha a uniuand roound ro to ay in hing woring Amri-cans sa or thir own uturs. Th SBWG strongysuorts th ta tim roosa and stands rady toh suort its immntation nationwid.
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