And you have to check off the appropriate box on the IRS form indicating whether the money is going into a checking or savings account.

FORBES: Magazine Article

Banks are marketing either a program where overdraft transactions are covered for a fee or one that allows you to link a checking account to a savings account, line of credit or credit card so if you overdraw funds are transferred in as needed, says Greg McBride, a senior financial analyst at Bankrate.com.

WSJ: Say No to Overdraft Pitches

The IRS has a withholding calculator that can help you determine the correct amount, (click here.) If you make an adjustment, be sure to capture the increase in your paycheck and put those dollars to the best use, whether it is setting up an automatic transfer from a checking to a savings account or increasing your retirement plan at work.

FORBES: How Your Tax Refund is Making You Poorer

That means your money is always working for you, instead of idling in a no-interest checking account while waiting to be spent on bills or moved to savings.

FORBES: Choose A Checking Account That Works For You