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Section 83

Guest Lex

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Section 83 applies to any transfer of property (other than cash) to an employee or independent contractor on account of the performance of services from a plan that does not meet the requirements of IRC 401(a) or 403(B) if the property is not subject to a substantial risk of forfeiture. Property includes cash value of life insurance, annuities, stock or an interest in a irrevocable trust. The property is subject to ordinary income tax and FICA tax as well as state taxes. There are extensive regulations on Section 83 as well as IRS plrs.


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