The "tax chart" that you are referring to is part of the IRS withholding tax publication. You can access the chart you are referring to in IRS Publication 15-T - Federal Income Tax Withholding Methods. In order to "fix this going forward" you will need to change your withholding. There are two ways to change your military retirement pay withholding. You can call the Retiree Pay customer service number at DFAS at 888-332-7411. Or, you can make changes online via DFAS's myPay secure web- based pay management system. For more information on changing your withholding, click on the following link: Federal Income Tax Withholding after Leaving the Military
Will you be "slammed" with a penalty? I doubt there will be much of a penalty if any, assessed for underpayment of estimated tax. Even if a penalty is assessed, the underpayment of estimated tax penalty is simply interest, based on the amount of under payment. The interest rate for 2022 was 3% to 6% throughout the year.
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