CLIENT ALERT: IRS Proposes to Simplify Tax Return Filing Process for Individuals Making Section 83(b) Elections

July 21, 2015 - The Internal Revenue Service issued proposed regulations aimed at 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.

Under the proposed regulations, taxpayers would no longer have to file the section 83(b) election twice: the second filing — with their annual tax returns — would be eliminated. Eliminating the “filing with return” requirement will permit taxpayers to file their annual tax return with most commercially available electronic tax return preparation programs. Click here to read the full article.