August 2, 2016 News

CLIENT ALERT: IRS Issues Final Regulations Simplifying the Tax Return Filing Process for Individuals Making Section 83(b) Elections

August 2, 2016 – Removing a significant obstacle for taxpayers who wish to file their annual tax returns electronically, but who have also made a “section 83(b) election” during the year, the Internal Revenue Service recently issued final regulations eliminating the second “filing with return” requirement.  (Taxpayers still have to file the “section 83(b) election” with the IRS within 30 days after the property subject to section 83 is awarded.)  Taxpayers will now generally be able to file their annual tax return with most commercially available electronic tax return preparation programs.  Please click here to read an overview of the final regulations.