10. Getting a big refund
While we all want the biggest refund of all, this is not necessarily a good thing for us. Getting a big refund means that you actually made a mistake regarding the number of withholdings you asked for on your W-4 form. As a consequence, the taxman will hold way too much of your money during the entire year.
In other words, you’re unwillingly giving the government an interest-free loan. To solve the problem, file a new W-4 form, but this time with your employer, in order to have less tax withheld and claim additional allowances. If you don’t know how many allowances you can claim, check the IRS withholding calculator.
