Then the criminal makes up wage and withholding information, files a tax return electronically (avoiding the need for an actual W-2 form), claims a few deductions and tax credits to produce a larger refund, and waits a couple of weeks for the refund.

FORBES: Billions in Tax Refund Fraud--and How to Stop Most of it

While some taxpayers may not want to adjust their withholding because they like the enforced savings that comes with a windfall tax return, others may want to, says Mr. Sabates.

WSJ: Spend That Tax Refund Wisely