The maximum annual contribution limit for 457(b) plans will be $18,000 for 2015 (or 100% of gross annual compensation, if less).Cost of living adjustments (COLAs) may allow for additional increases to these limits in increments of $500 per year.he maximum annual contribution limit for 457(b) plans will be $18,000 for 2015 (or 100% of gross annual compensation, if less).
For checks of $1,250 or more, the penalty is 2% of the check amount. For checks less than $1,250, the penalty is the lesser of $25 or the amount of the check. â¢ Paying Late â The penalty is Â½% of the unpaid tax for each month or part of a month the tax is unpaid.
The state of Georgia has penalties for late filing, late payment, frivolous return, negligent underpayment, fraudulent underpayment, and a failure to file an estimated tax penalty.The penalty for filing late is 5% per month, but will not exceed a total of 25% of the tax due.The penalty for late payment is 0.5% per month, but will not exceed a total of 25% of the tax due. Also, the late filing and late payment penalties can't exceed 25% when combined.he state of Georgia has penalties for late filing, late payment, frivolous return, negligent underpayment, fraudulent underpayment, and a failure to file an estimated tax penalty.