accurate withholding rates

[user17611601864]

I've been retired for two years and each year my withholding tax rate has been inaccurate resulting in large tax amount owed.  If a person receives  monthly pension from two past employers,  plus receives income from a 457b retirement account and receives social security, is it possible to estimate an accurate withholding rate for each so as not to face the underpaid tax penalty?

[SwapnaM]

To avoid penalties, you must meet one of these safe harbor thresholds:

• Pay at least 90% of your current year’s tax liability, or
• Pay 100% of your prior year’s tax liability (or 110% if your AGI was over $150,000).

Withholding from pensions, 457(b), or Social Security is treated by the IRS as if it were paid evenly throughout the year, regardless of when it was withheld. This means you can adjust withholding later in the year and still avoid penalties. 

The IRS Tax withholding estimator will calculate your projected total tax liability for the year and the total dollar amount of tax that needs to be withheld from all sources combined. 

Adjust Withholding Forms from different sources. If one pension allows flexible withholding, you can increase it to cover taxes from all sources. The Social Security Administration only allows you to withhold at specific flat percentages (7%, 10%, 12%, or 22%). If you need to withhold a small, specific amount, use this form W-4V. You should revisit your withholding mid-year and again in Q4. If needed, make a catch-up withholding from a large distribution or pension payment.

@user17611601864 Hope this helps!!