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.
Civil fraud can include a penalty of up to 75% of the underpayment of tax attributable to fraud, in addition to the taxes owed. Criminal convictions of promoters and investors may result in fines up to $250,000 and up to five years in prison. Table of Contents - Abusive Tax Schemes. Criminal Investigation (CI)