Each year, millions of taxpayers receive an income tax refund when they file their income tax returns. While receiving a refund from the IRS of a few thousand dollars can be a pleasant influx of cash, the reality is that you essentially gave the government an interest-free loan for close to a year. This is not the most efficient use of your money.
Fortunately, there is a way to begin collecting your 2017 refund now: You can review the amounts you’re having withheld and/or what estimated tax payments you’re making, and adjust them to keep more money in your pocket during the year.
Reasons to Modify Amounts