Electronic Sec. 83(b) Elections?

An employee who receives restricted stock in connection with the performance of services can elect to include the value of the stock in income when received rather than wait until the restrictions are gone. Doing this can result in less tax cost to the employee because going forward all appreciation is transformed into capital gain. The election to get this treatment must be made within 30 days of receipt of the restricted stock, and the IRS has a sample form that can be used for this purpose. A proposed bill—the Eliminating Paperwork for Startups Act (H.R. 2611) would allow the election to be made electronically. #IdeaoftheDay