If you had to pay a 10% penalty + fed taxes at your tax rate then the 22% withholding would not have been enough. For instance ...if you had no other income, filing single with no dependents and using the standard deduction then your estimated tax bill would be about 26,488 federal + 15,000 (10% penalty) = 41,488 - 33,000 withheld = 8,488 owed on the tax return ... you did not have enough withheld.
