For the first time, the IRS has issued an official form to be used for making an election under Section 83(b) of the Internal Revenue Code. Until the IRS issued Form 15620 in late 2024, taxpayers used their own “homemade”...more
As explained in a prior blog post, an employee who timely files a Section 83(b) election will be taxed on the fair market value of property transferred (typically restricted stock) to him or her in exchange for services on...more
Recently issued final regulations under Internal Revenue Code Section 83 (the Final Regulations) remove the requirement that taxpayers must submit a copy of an election made under Code Section 83(b) with the taxpayer's income...more