Frequently Asked Questions (FAQs)

  1. Who is sponsoring this sweepstakes?
  2. The SaveYourRefund Sweepstakes is sponsored by a non-profit, 501(c)(3) organization, the Doorways to Dreams (D2D) Fund, Inc. and is financially supported by philanthropic and private funds.

  3. Why is D2D Fund sponsoring this sweepstakes?
  4. D2D’s past work on prize-linked savings has shown that the opportunity to win a prize – even a prize of modest value – can energize and motivate people to save. As the $90 billion US gaming industry attests, a chance to win allows us to dream, imagine, and aspire – and pairing prize incentives with financial actions can infuse saving, an act often viewed as self-denial, with more immediate reward, surprise, and possibility.

    The SaveYourRefund Sweepstakes marries these ingredients – tax time opportunity becomes a conduit for the fun and excitement of winning. The chance to win one of multiple weekly $250 prizes and a Grand Prize of $25,000 motivates tax filers with great odds at increasing a $50 investment by five 5 times and having a chance to win a potentially life-changing grand prize, more than five hundred times that initial investment. With the SaveYourRefund Sweepstakes, filers truly can "save small, and win BIG!"

  5. What are the prizes?
  6. There are a total of 41 cash prizes: forty (40) weekly prizes of $250 each and one (1) grand prize of $25,000.

  7. Who is eligible to enter?
  8. All tax filers over age 18 who are due a federal tax refund and split $50 or more of their federal tax refund into a qualified savings product using IRS Form 8888 are eligible to enter.

    Qualified savings products include: U.S. Savings Bond, Savings Account, Certificate of Deposit, IRA, TreasuryDirect, or a Prepaid Card. See Official Rules for details.

  9. How do I enter?
  10. Simply visit www.SaveYourRefund.com on any computer or mobile device and complete an entry form. You may also text “SAVE” to (646) 480-SAVE(7283) to submit your entry. To submit your entry in Spanish, text “GUARDA” to (646) 480-SAVE(7283).

  11. What is the IRS Form 8888?
  12. IRS Form 8888 allows tax filers to conveniently, and securely direct deposit their refund into two or more accounts. Tax filers can receive their refund faster than a paper check. Additionally, Form 8888 allows tax filers to purchase up to $5,000 in U.S. Savings Bonds (Series I).

  13. When will winners be selected for the weekly prizes?
  14. The D2D Save Your Refund Sweepstakes (the “Sweepstakes”) begins at 12:01 a.m. PT on February 1, 2013 (the “Sweepstakes Start Date”) and ends at 11:59 p.m. PT on April 15, 2013 (the “Sweepstakes End Date”), (such period referred to herein as the “Sweepstakes Period”). During the Sweepstakes Period, there will be ten (10) weekly drawings, on February 8, 2013, February 15, 2013, February 22, 2013, March 1, 2013, March 8, 2013, March 15, 2013, March 22, 2013, March 29, 2013, April 5, 2013 and April 12, 2013 (the “Weekly Drawing Dates”).

  15. When will the winner be selected for the grand prize?
  16. The Grand Prize drawing will occur on Friday, April 19, 2013.

  17. How do I follow the sweepstakes and receive updates?
  18. You can receive information about winners and updates about the Sweepstakes by following us on Twitter (@SaveYourRefund) and liking us on Facebook (facebook.com/SaveYourRefund).

  19. Where can I find media materials (press kit, press releases, images, etc.)?
  20. Please click here for media materials related to the SaveYourRefund Sweepstakes. For additional information, interview requests and anything else you might need please email our public relations team at info@saveyourrefund.com.

  21. Who do I contact with further questions?
  22. If you did not find an answer to your question in this FAQ or in the Official Rules please email us at info@saveyourrefund.com.

  23. I'm using tax software to prepare my federal taxes. How do i split my tax refund?
  24. Although each personal tax preparation software is different, all of them complete IRS Forms in the back end. Though you won't see these forms until you print or view your filed return at the end of filing process, you can trust that indicating that you will split your refund will deploy Form 8888 automatically.

    Once the tax software has calculated your final refund amount, you will see "refund options" that ask you how you prefer to receive your federal tax refund.

    In order to be eligible for the SaveYourRefund sweepstakes, you must split your refund into two (2) or more accounts, one of which must be a savings account or a U.S. Savings bond (your tax software will use IRS form 8888 to fulfill this request). Simply indicate your preference in the software, and let it do the work to fill in Form 8888. It's that easy!

    Click here to learn how to print Form 8888 in Intuit's TurboTax.

    Click here to learn how to purchase U.S. Savings Bonds in Intuit's TurboTax.

    For other popular tax preparation software websites see:

  25. What if I already filed my taxes and saved using Form 8888?
  26. If you learned about the SaveYourRefund Sweepstakes after filing your taxes and saving a portion of it using Form 8888, you can enter anytime until 11:59 p.m. PT on April 15, 2013! See our Official Rules for entry.

  27. What if I already filed my taxes but did not use Form 8888 to split my refund into savings?
  28. If you learned about the SaveYourRefund Sweepstakes after filing your taxes and did NOT save a portion of it using Form 8888, unfortunately you are not eligible to enter the SaveYourRefund Sweepstakes online or via SMS text. We do hope to offer a similar Sweepstakes in future tax seasons, so we encourage you to continue to follow us for future opportunities.