BACKGROUND: Section 83 of the Internal Revenue Code states that you do not have to recognize income from owning equity in a company until that stock vests.
Section 83(b) refers to a special election you can make with the IRS to let them know that, despite the fact you have not yet vested your stock, you still want to recognize the income associated with ownership immediately.
If you file the 83(b) election before your stock has appreciated from it’s strike price there will be no income and therefore no tax owed. You have 30 days from the date of exercise to
from It's Taxing - Bond Beebe