2012 Tax Refund I-Bonds

I see no indication that the IRS is ending this program. So it appears everyone will be able to buy paper I-Bonds (up to $5,000) with their refund for the 2012 tax year just like they were able to do for the 2011 tax year.

I found more information in this IRS FAQ page.

FYI - if there are any errors in your return that impact the refund amount, the IRS will cancel the request to purchase the I-Bonds and just send you the refund.  That's even if there is plenty of money to make the purchase.  They just cancel it and you have no option to continue with the purchase.  BUT at these low rates, no big deal either way.