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    83 (B) Election Memorandum Founder's Workbench

    Uploaded by

    Arthur Young
    The document provides information about filing a Section 83(b) election form with the IRS within 30 days of purchasing founder units in a company subject to vesting. It recommends consulting tax, accounting, or legal advisors on whether to file the election form to elect how to be taxed on the purchase of units. The election form includes spaces to provide details of the property, its transfer, restrictions, fair market value, amount paid, and confirmation a copy was sent to the company.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    83 (B) Election Memorandum Founder's Workbench

    Uploaded by

    Arthur Young
    41 views2 pages
    The document provides information about filing a Section 83(b) election form with the IRS within 30 days of purchasing founder units in a company subject to vesting. It recommends consulting tax, accounting, or legal advisors on whether to file the election form to elect how to be taxed on the purchase of units. The election form includes spaces to provide details of the property, its transfer, restrictions, fair market value, amount paid, and confirmation a copy was sent to the company.

    Original Description:

    Blank 83(b) election

    Original Title

    Blank 83 Election

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    The document provides information about filing a Section 83(b) election form with the IRS within 30 days of purchasing founder units in a company subject to vesting. It recommends consulting tax, accounting, or legal advisors on whether to file the election form to elect how to be taxed on the purchase of units. The election form includes spaces to provide details of the property, its transfer, restrictions, fair market value, amount paid, and confirmation a copy was sent to the company.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    41 views2 pages

    83 (B) Election Memorandum Founder's Workbench

    Uploaded by

    Arthur Young
    The document provides information about filing a Section 83(b) election form with the IRS within 30 days of purchasing founder units in a company subject to vesting. It recommends consulting tax, accounting, or legal advisors on whether to file the election form to elect how to be taxed on the purchase of units. The election form includes spaces to provide details of the property, its transfer, restrictions, fair market value, amount paid, and confirmation a copy was sent to the company.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    BLANK SECTION 83(b) ELECTION FORM

    For your convenience, we are providing the attached blank Section 83(b) election form for your

    consideration. We strongly recommend that you consult your tax, accounting and/or legal

    advisors and consider filing a Section 83(b) election with the United States Internal Revenue

    Service for each founder whose units are subject to vesting and possible forfeiture.

    TO BE EFFECTIVE, A SECTION 83(B) ELECTION FORM MUST BE FILED WITH THE

    INTERNAL REVENUE SERVICE WITHIN THIRTY (30) DAYS AFTER THE PURCHASE

    OF THE UNITS IN THE COMPANY. LATE FILINGS WILL NOT BE EFFECTIVE. We

    strongly recommend that you (i) review the 83(b) Election Memorandum found on the Founder’s

    Workbench and (ii) consult with your tax, accounting and/or legal advisors and consider filing a

    Section 83(b) election with the United States Internal Revenue Service.

    REMOVE THIS COVER PAGE BEFORE FILING THE ELECTION

    FORM

    WITH THE INTERNAL REVENUE SERVICE

    * * *

    This memorandum is not intended or written to be used, and it cannot be used, by any
    taxpayer for the purpose of avoiding United States federal income tax penalties that may be
    imposed on the taxpayer. Further, this memorandum is not intended or written to be used,
    and cannot be used, for the purpose of promoting, marketing or recommending to another
    party any transaction or matter addressed herein. Taxpayers should seek advice based on
    their own particular circumstances from an independent tax advisor. The foregoing notice
    is intended to satisfy the requirements for written tax advice under Section 10.35 of
    Internal Revenue Service Circular 230.
    Election to Include in Gross Income
    in Year of Transfer of Property
    Pursuant to Section 83(b) of the Internal Revenue Code

    The undersigned hereby makes an election pursuant to Section 83(b) of the Internal
    Revenue Code with respect to the property described below and supplies the following
    information in accordance with the regulations promulgated thereunder:

    1. The name, address and taxpayer identification number of the undersigned are:

    Name: _____________________________________________________________

    Address: _____________________________________________________________

    _____________________________________________________________

    Taxpayer Identification Number: ___________________________________________

    2. Description of property to which the election is being made:

    ______________________________________________________________________

    3. Date on which property was transferred: _____________________________________

    The taxable year to which this election relates: ________________________________

    4. Nature of restrictions to which the property is subject:

    ______________________________________________________________________

    ______________________________________________________________________

    ______________________________________________________________________

    5. Fair market value of the property at time of transfer: ____________________________

    ______________________________________________________________________

    6. Amount paid for the property: ______________________________________________

    7. A copy of this statement has been furnished to the Company issuing property.

    Date: __________________________

    ____________________________________
    Name:

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