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.
If you do not file by the original due date, a late filing penalty of 5% of the unpaid tax is added for each month your tax return is late. This penalty cannot exceed 25% of your tax.f you fail to report the federal change, you must pay a 5% penalty for each month the federal change is not reported to the Revenue Department. The penalty cannot exceed 25% of your additional tax.