l understand that you are allowed to change the number of allowances you are claiming, anytime you want at work.Since l am working 30 hours of overtime this next pay period (two week period), a co worker told me to change my allowances from 2 to 10, just one time for this pay check so l get more back.l am guessing that my check will be a couple hundred dollars more.My question is, is that couple hundred dollars going to come back around come time to file taxes in february?like am l going to have to pay back that few hundred dollars exactly, or is the amount l have to pay/or get returned going to be based on my annual income/tax bracket, and not that particular paycheck?

It will come around at tax time. It would be exactly, but fairly close. It is based on overall income, but the tax tables come out pretty good if you only have one job.

If u increase the allowances on ur W-4, they will take out less. But whatever they take out less, that amount will either come out of ur refund (if ur refund is that much) or u will have to pay when u file. The total tax is the same no matter what is withheld, the only think that changes is when u get the money. On a one time couple hundred dollars, it wo not make all that much difference - if the extra PAY is a couple hundred dollars, the tax difference will be only a small percentage of that. But you'd still be wiser to leave ur allowances alone so they take out the right amount, whether than messing with it & taking a chance on ending up owing when u file.

The amount withheld on any particular paycheck is based on the amount of that paycheck. The amount of tax liability for the year, when u do ur tax return, is based on what u make all year.

Your friend is making a lousy suggestion--invariably, people who drastically change their W-4 can find that they owe at tax time.

Your employer also does not have to accept the W-4 if you are clearly trying to avoid taxes.

The amount that the government keeps is based on your total income for the year. The amount that you pay or receive back is the difference between the amount that the government keeps and the amount that was withheld. Each dollar less withheld results in one more dollar to pay or one less dollar refunded.

You have to pay it back since you did not really have 10 deductions. You were not supporting a family of 10 people..