📣 Finally, the day has come! The IRS now accepts 83(b) elections electronically. ⚡ Taxpayers may continue mailing in their form if they’d like. (𝘉𝘶𝘵 𝘸𝘩𝘺 𝘸𝘰𝘶𝘭𝘥 𝘺𝘰𝘶?! 𝘙𝘦𝘢𝘥 𝘰𝘯 𝘵𝘰 𝘧𝘪𝘯𝘥 𝘰𝘶𝘵). A few months ago, the IRS released an official form for making a Section 83(b) Election – 𝗙𝗼𝗿𝗺
Key Takeaway The 83(b) election has to be made on paper – there’s no electronic or fax filing. Make sure you use USPS Certified Mail or an IRS-designated private delivery service to send your package to the IRS, and maintain good records as evidence that you’ve properly made the election.
The 83(b) election is arguably one of the most important tax forms to file if you received equity that is subject to vesting such as restricted stock or profits interests. 83(b) elections have saved taxpayers millions of dollars over the years, but there are some rigid rules involved with filing
Key takeaway While the 83(b) election form seems straightforward, some items require additional clarification. This blog post provides actionable tips so that you get your form right. Intro You start filling in your 83(b) election form. It seems like a breeze! You fill in your name, your address, your social
Key Takeaway You have 30 days from the day you get your equity to file an 83(b) election with the IRS. You meet the deadline when you properly mail it on time – regardless of when it’s delivered. Intro You’ve heard the magic number so many times: 30 days. If
Key takeaway The 83(b) election is available to you even as a non-U.S. taxpayer. If there’s any possibility that you may become a U.S. taxpayer during your vesting schedule (usually, four years), then filing the 83(b) election while you do have the chance can help you save handsomely on taxes
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