Get the free 83(b) Election Form

Cap share Instructions DO NOT send these instructions to the IRS. Four 83(b) election forms have been included that should be signed. Send the letter and two copies of the election form to the IRS.

How to fill out 83b election form

How to fill out 83b election form

1. Step 1: Obtain the 83b election form from the IRS website or your employer.
2. Step 2: Fill out your personal information, including your name, Social Security number, and address.
3. Step 3: Indicate the property for which you are making the 83b election. Provide a detailed description of the property and when you received it.
4. Step 4: Specify the value of the property you received and the amount you paid for it, if any.
5. Step 5: Sign and date the form.
6. Step 6: Make copies of the completed form for your records.
7. Step 7: Mail the original completed form to the IRS and keep proof of mailing.

Who needs 83b election form?

1. Individuals who have been granted restricted stock or stock options by their employer may need to fill out the 83b election form.
2. The form is used to elect to include the value of the property in your income for the year it was received, instead of waiting until the property becomes substantially vested.
3. By filing this form, you may be able to minimize your tax liabilities in the future if the value of the property increases significantly.

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What is 83b election form?

The 83(b) election form is used by employees, specifically founders, who receive restricted stock options to choose to pay taxes on the value of the stock at the time of grant.

Who is required to file 83b election form?

Employees who receive restricted stock options are required to file the 83(b) election form within 30 days of receiving the stock.

How to fill out 83b election form?

To fill out the 83(b) election form, the employee must provide their name, address, social security number, details of the stock received, and a statement expressing their election to pay taxes on the stock upfront.

What is the purpose of 83b election form?

The purpose of the 83(b) election form is to allow employees to pay taxes on the value of restricted stock options at the time of grant, rather than at the time of vesting.

What information must be reported on 83b election form?

The 83(b) election form must include the employee's personal information, details of the stock received, the fair market value of the stock, and a statement of the election.