Monday, July 11, 2011

Can I claim exemption for one paycheck only?

I was offered a bunch of overtime this past pay period (which is a rarity) and jumped at the chance to make some extra money. But after 2 70-hour work weeks in a row, I've run myself ragged and now am kind of bummed I won't be seeing the huge paycheck due to the ridiculous amount of taxes that will come out of it! Just for this one pay period, can I change my withholding status to "exempt" so that I can collect all of my hard-earned cash and then change it back after payday? I'm not worried about owing at the end of the year...just want to know if this is legit.

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