Russia supplies 40% of the EU’s natural gas via several pipelines running from Russia to Europe.Īs well as natural gas, Russia is the biggest supplier of oil to Europe. How does Russia's invasion of Ukraine affect your gas prices? Martin Lewis warns consumers there are 'very few solutions' to bringing their energy bills down and instead advises to try to start saving now for the winter Here's everything you need to know about the cause of the price hikes, what can be done about them and if there is a possibility of them coming down any time soon. It is steadily choking off supply lines amid the West's sanctions over the war in Ukraine. Russia, which is one of the biggest energy suppliers in the world, is largely behind the crippling price hikes. Mr Lewis urged the government to grasp the issue, adding: "What we need is a willingness to take action and to grasp this, to make sure there are millions of people in this country who don't face the choice between starvation and freezing this winter, and it's looking like that is a realistic choice if nothing is done for many." "The impact of it is frankly catastrophic and intervention is needed, and needed now," he said. This means Britons will see a £1,500 a year hike in bills which is "simply unaffordable for millions of homes" and is likely to put upwards of 10 million people into fuel poverty, Mr Lewis warns. The latest predictions estimate the energy price cap will increase by 77% on October 1 to £3,500, and in January next year it will rise even further. Money Saving Expert Martin Lewis has called on the government to urgently intervene on surging gas prices which will have a "frankly catastrophic" impact on millions of Britons later this year. Include the serial number(s) of the bond(s).Martin Lewis explains to ITV News the 'devastating' impact of the 'simply unaffordable' price hikes Britons are facing this autumn.If they can't tell you and you are the owner or co-owner of the bond, write to us. If you are not sure because you got the bonds when someone died, see Death of a savings bond owner. What if I'm not sure if a paper EE or I savings bond has already been cashed or replaced? See our instructions for an attorney-in-fact. You can authorize an attorney-in-fact to cash your bonds. See more about tax information for EE and I savings bonds.Ĭan I authorize someone else to cash my bonds? With us: If we cash your paper savings bond, we mail you the 1099-INT the following January. They may give or mail you the 1099-INT as soon as you cash the bond or they may wait until the following January. Send the form and the bonds to us at the address on FS Form 1522.Īt a bank: If a bank cashes your savings bond, they are responsible for getting you a 1099-INT.See FS Form 1522 for more about the signature requirements.) (If the value of the bond(s) you are cashing is more than $1,000, you must have your signature certified. Get your signature certified, if necessary.What identification or other documents do you need.With us: We have no limit on the value or number of savings bonds you can cash at one time as long as the bonds meet the requirements for cashing.Ĭashing savings bonds outside the United StatesĬashing your (adult's) bonds in the United StatesĪt a bank where you have a bank account: Contact them. A paper savings bond must be cashed for its entire value.Īt a bank: Banks vary in how much they will cash at one time – or if they cash savings bonds at all. Note: You cannot cash part of a paper savings bond. You can only cash bonds that you own or co-own unless you have legal evidence or other documentation that we accept to show you are entitled to cash the bond. Note: Do not buy savings bonds from someone else or in an online auction site. See more in Tax information for EE and I savings bonds. The 1099-INT that you need for your tax return will be available in your TreasuryDirect account in January of the year after you cash in the bond. When will I get a form for my tax return? If you cash only part of what a bond is worth, you get the interest only on the part you cash. If you cash only part of what a bond is worth, you must leave at least $25 in your account. Electronic EE or I savings bonds How do I know how much my bond is worth?
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