Americans can keep the bank account full by using the W-4 form to choose the tax amount the employer takes out of their paycheck to give to the IRS. Hard earned dollars do not have to go to waste until taxes are filed and a refund is given back.

There will be no disappointment on pay day for taxpayers that plan to pay the amount of taxes owed to the IRS, no refunds or filing time payments needed.

1. Do not give up a dollar needed to pay for the expenses. Add 1 for the allowance for self.

The money a taxpayer keeps at tax filing time by using the standard deduction, or their own itemized deductions (not the family's), and any personal exemption for their own liviing expenses is kept in the pay total given to the worker on pay day instead of taken out each pay period during the year and then given back after the deduction and exemptions are claimed on the form 1040.

There is also an extra allowance for income makers who support their spouse. Workers add the second 1 to guarantee neither them nor a spouse lives without being short a dollar.

Note, taxpayers can claim zero and stay sure that taxes will not be underpaid during the year and expect a refund, or at the least no payment due, at tax filing time. But, a carefu planner can plan the exact right number of allowances to claim, including the one for self, and not owe any money to the IRS after the work year ends.

2. Keep income to support a wife, or a husband, who does not pay for their own costs of living with their own income, by claiming the allowance for a spouse. Add 1.

Deduction and exemption money a taxpayer plans on using to give to a spouse comes in the regular paycheck.

3. Give children the family finances they can cont on the whole year. Count up the children and add all the 1s in a total count on the W-4.

The checking account will stay balanced during the year. No need to put tax refund money in after deductions and exemptions are claimed for the costs of raising children and the money taken out of a paycheck comes back in a check signed by the IRS.

4. Add 1 if pay for more than 50 percent the costs for keeping a home and raising children and claim Head of Household. Everyone under a parent's wing can rest easy. No worries on the family's money.

5. Add another sum of money for the children, and make sure to keep money to pay for child care.

The money not taken out is the money saved from the tax bill by claiming a credit for child care expenses and the Child Tax Credit for each child. The care costs, if high enough, count for 1.

For the average taxpayer earning middle class wages or lower that claims the Child Tax Credit, each child count for 2. But, after the second child, the IRS limits how much money a family can take home from work to give to the family. Subtract 1 if there are three to seven children in the home. Or, if there are eight or more children, subtract 2.

Upper middle class families can claim 1 allowance for each child.

6. Write the total number of allowances on the W-4. Just add up all the allowances.

Source:

IRS Form W-4 (2012).