There are strategies to compensate for the over-withholding of the RB paycheck. I have heard a few of them from smart and not so smart people, and am going with a least risk strategy for me, which is to allow the over-withholding to occur and then to adjust my forward withholding based on my estimated taxes for the year. It should result in a zero tax bill plus or minus a few hundred bucks. My days of giving the government a tax free loan for a year died with zero percent interest.
Some have advocated declaring exempt from withholding for the feb 20th check and then writing a check for estimated taxes. This could result in penalties (doubtful, but possible) and I am not willing to risk the possible outcome.