A recently-formed corporation is considering going public and anticipates substantial future appreciation in its stock. Would it be advisable for an executive/employee receiving stock (restricted property) to elect to recognize income immediately under Sec. 83(b)? Contrast the tax consequences of a restricted property arrangement for both the employer and employee when this election is made versus when it is not made. Consider the effect of the subsequent lapsing of the restrictions and the employee’s sale of the stock.