This is a great question and you're smart to double-check! As others have mentioned, you don't need to attach your 83(b) election to your 2024 tax return since you already filed it properly within the 30-day window. One additional tip: consider keeping digital copies of your 83(b) election documents in multiple places (cloud storage, email to yourself, etc.) along with your physical copies. I've seen too many founders scramble years later when they need to prove their election was made for capital gains calculations. Also, if your startup issues any tax documents like Form 1099-B when you eventually sell shares, make sure they reflect the correct basis from your 83(b) election. Sometimes companies don't track this properly and report incorrect information to the IRS, which can create headaches during tax season. You're clearly on top of things by asking these questions early - that attention to detail will serve you well as your startup grows!

Great thread! I went through this exact situation last year and can confirm what others have said - no need to resubmit your 83(b) election with your current tax return since you already filed it properly. One thing I wish I had done earlier was creating a simple spreadsheet to track my equity details. I recorded the grant date, number of shares, exercise price, fair market value at grant, and references to my 83(b) filing. This made it so much easier when my accountant needed the information this tax season. Also, if you're planning to exercise more options or receive additional equity grants in the future, consider whether 83(b) elections make sense for those too. The analysis can be different depending on your company's valuation trajectory and your personal tax situation. Keep those records safe - you'll definitely need them when you eventually have a liquidity event!

Great point about the W-4 form! I think I might still be using the old terminology. I filled out my W-4 when I started this job in 2023 and checked the box for "Single or Married filing separately" with no additional amounts entered anywhere else. Should I be filling out a new W-4 with the current form to make sure my withholdings are calculated correctly? And would that help with the commission withholding issue, or is the 22% supplemental wage rate going to apply regardless of how I fill out the form?

This is exactly what happened to me when I switched to a commission-based role! The key thing to understand is that your employer's payroll system is required to withhold at the supplemental wage rate for commissions, which is currently 22% for amounts up to $1 million. This happens regardless of your W-4 settings. However, you can definitely optimize your overall withholding strategy. I'd recommend using the IRS withholding calculator (or one of the tools others mentioned) to figure out your total expected tax liability for the year, then adjust your regular salary W-4 to account for the overwithholding on commissions. You might be able to reduce withholding on your twice-monthly salary checks to balance things out. Also, make sure you're using the current W-4 form from 2020 or later - the old allowances system doesn't exist anymore. The good news is that any overwithholding will come back to you as a refund, but I understand wanting to keep more of your money throughout the year instead of giving the government an interest-free loan!

I went through this exact nightmare scenario with my Solo 401k last year - $28,500 penalty for late 5500-EZ filing. The stress was unbelievable, but I want to give you hope: I got the entire penalty abated using first-time abatement relief. Here's what worked for me: I submitted both a written request AND called the IRS using one of those callback services mentioned earlier. Having that phone conversation really helped because the agent explained exactly what documentation would strengthen my case. She told me to emphasize three key points in my letter: 1) Clean compliance history with all other tax obligations, 2) Good faith effort to file once I discovered the requirement, and 3) Reasonable cause due to lack of awareness of the filing requirement. The whole process took about 45 days from start to finish, but the relief when I got that abatement approval letter was incredible. Don't lose hope - the IRS really does work with taxpayers who have clean records and made honest mistakes. Just make sure to act quickly and be thorough with your documentation.

Grace, I'm so sorry you're going through this stress - I know exactly how that heart attack feeling goes when you see a penalty notice that big! I went through something similar with my Solo 401k a couple years ago, though my penalty was "only" $18,250. The advice from Steven and the others about first-time abatement is absolutely spot-on. What really helped in my case was being very specific about the timeline and emphasizing that I had NO idea this form existed when I converted from my SEP-IRA. I included a paragraph explaining how my financial advisor never mentioned it, and how Form 5500-EZ isn't covered in any of the standard tax software most small business owners use. One thing I'd add to the great advice already given: when you write your letter, include a brief explanation of what your Solo 401k is used for (just yourself as the business owner, no other employees) and the account balance. Sometimes the IRS agents don't fully understand that these are genuinely small business retirement accounts, not large corporate pension plans that should have professional plan administrators managing compliance. The good news is that based on everyone's experiences here, it sounds like the IRS is pretty reasonable with these first-time abatement requests for Solo 401k owners. Hang in there - this nightmare will be over soon!

I feel for you - tax software can be tricky even when it's supposed to make things easier! The good news is this is definitely fixable, and you have a few options depending on how recently you filed. If you filed within the last few days, definitely try calling the IRS first to see if they can stop processing your return. The automated system might tell you it's too late, but if you can get through to a human agent, they sometimes have more flexibility. If calling doesn't work out, the 1040-X route isn't too bad once you get the hang of it. Just make sure to clearly show the change from line 36 back to line 35a. The 16-week processing time is annoying, but at least you'll get your money eventually. One tip: when you do get this sorted out, consider setting up direct deposit for future refunds if you haven't already. It's faster and eliminates the risk of lost checks. Also, you might want to adjust your withholdings slightly so you don't get such a large refund next year - that way a mistake like this has less impact on your cash flow. You've got this! It's just a paperwork hiccup.

Don't panic - this happens more often than you'd think! I work in tax prep and see this exact mistake several times each season. The key is acting quickly since you have a few different paths to fix this. First, definitely try calling the IRS ASAP if you just filed. Even if the automated system says your return is being processed, a human agent might still be able to make the correction before it's finalized. The number is 1-800-829-1040, but be prepared for long wait times. If calling doesn't work, yes, you'll need to file Form 1040-X. It's not as scary as it sounds - just make sure to clearly indicate that you want to move the $2,437 from line 36 (estimated tax) back to line 35a (refund). In Part III, keep it simple: "Correcting refund allocation - moving $2,437 from line 36 to line 35a for direct refund." Pro tip: Double-check your bank account info on the amendment if you're doing direct deposit. Since this is essentially a "new" refund request, make sure all your banking details are correct. The 16-week wait for amendments is rough, but you will get your money. Hang in there!

I had this exact same issue last year! After going through all the suggestions here, I found out my mortgage company had collected the property taxes in escrow throughout 2023 but didn't actually pay the county until January 4th, 2024. So even though I was paying into escrow all year, it won't show up on my 2023 1098. What helped me was logging into my county's property tax website directly - they have a payment history section that shows exactly when payments were received and from whom. In my case, it clearly showed "No payments received in 2023" even though I'd been paying my mortgage company all year. I ended up having to get a letter from my mortgage company explaining the situation for my tax preparer. The good news is that when those taxes do get paid (in 2024), they'll show up on next year's 1098, so you're not losing the deduction - it's just shifted to the following tax year. Definitely check your escrow analysis statement too - it should show projected vs actual disbursements and might explain the timing issue.

I'm dealing with a very similar situation! Just got my 1098 and was shocked to see zero property taxes listed even though I've been paying into escrow all year. After reading through all these responses, I'm starting to understand this is way more common than I thought. I'm going to follow the advice here and check my county's property tax website first to see if any payments were actually made in 2023. If not, then I'll know it's just a timing issue like so many others have experienced. One question though - for those who had to get documentation from their mortgage company about the timing, did you find it better to call them directly or use one of those services people mentioned? I'm dreading another multi-hour phone call session, but I want to make sure I have everything properly documented for my tax filing. Thanks to everyone who shared their experiences - this thread has been incredibly helpful for understanding what's actually happening with these escrow/1098 discrepancies!