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 your tax return is more than 60 days late, the minimum late filing penalty is $135 or 100% of the tax due, whichever is less. If you arenât sure whether youâll be getting a tax refund or you will owe a tax payment when you ultimately file your returnâ¦ donât worry.inally, there is a late filing penalty (also called the failure-to-file penalty) which is imposed if you owe tax to the IRS and you donât file on time. This fee is 5% of the unpaid taxes, assessed on a monthly basis, up to a maximum of 5 months.