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There will be an extra second on June 30th this year, taking your clock from 11:59:59 PM to 11:59:60 before finally switching over to midnight, July 1st.
Leap seconds are added, to address the gradual slowing of the Earth's rotation on non-leap years and will become more frequent as the tug of the moon slows us down, although sometimes they're also removed if specific seismic events happen to speed up the rotation slightly. (For example, the tectonic shift that took place off Indonesia killing hundreds of thousands of people in the tsunami that followed also resulted in a slight rotational increase.)
More info here for the technically inclined and/or curious: http://en.wikipedia.org/wiki/Leap_second