Eliminating Paperwork for Startups Act

[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2611 Introduced in House (IH)]

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118th CONGRESS
  1st Session
                                H. R. 2611

To amend the Internal Revenue Code of 1986 to require the Secretary of 
the Treasury to permit an election relating to property transferred in 
        connection with services to be made in electronic form.


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                    IN THE HOUSE OF REPRESENTATIVES

                             April 13, 2023

Mr. McHenry (for himself, Mr. Smith of Nebraska, Ms. Velazquez, and Ms. 
   DelBene) introduced the following bill; which was referred to the 
                      Committee on Ways and Means

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                                 A BILL


 
To amend the Internal Revenue Code of 1986 to require the Secretary of 
the Treasury to permit an election relating to property transferred in 
        connection with services to be made in electronic form.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Eliminating Paperwork for Startups 
Act''.

SEC. 2. ELECTRONIC FILING OF ELECTION RELATING TO PROPERTY TRANSFERRED 
              IN CONNECTION WITH SERVICES.

    (a) In General.--Section 83(b)(2) of the Internal Revenue Code of 
1986 is amended by inserting ``(except that such election may be made 
in electronic form)'' after ``in such manner as the Secretary 
prescribes''.
    (b) Confirmation.--In the case of any election under section 83(b) 
of the Internal Revenue Code of 1986 which is made in electronic form, 
the Secretary of the Treasury shall ensure that a confirmation of such 
election is sent in electronic form to the person making such election.
    (c) Effective Date.--The amendment made by this Act shall apply to 
elections made after the date that is 180 days after the date of the 
enactment of this Act.
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