Yes, you can do that just to protect yourself. The easiest way to make a calculated change is to use the amount you were refunded and add an amount that you would like to have as a refund, then divide that number by the number of pay periods remaining in the year. Enter this result on line 4(c) on the W-4. This may be off some, but you can change this as many times as you want during the tax year as you monitor your tax withholding.
You can also use the calculators provided by xmasbaby0 in this thread.
@t2pineda
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