DOLLY C. AYALA
Orlando,FL
Summary
Experienced and motivated tax professional with over ten years of experience in the financial services industry. Specializing in investment partnership compliance, dedicated to ensuring adherence to all regulatory requirements and optimizing tax strategies. Strong focus on maintaining client relations, consistently delivering exceptional service and building long-lasting partnerships. Committed to professional growth, successfully developing and mentoring staff members to foster a high-performing team environment.
Overview
23
23
years of professional experience
1
1
Certification
Work History
Tax Principle, Financial Services Niche
Withum
07.2015 - Current
- Led a firm-wide initiative to integrate our India Office with end-to-end scheduling, resulting in increased utilization compared to the previous year
- Spearheaded the development of a program to expand Withum’s core industry, resulting in increased participation and enhanced cross-selling opportunities
- Directed operations for the Financial Services niche in the Florida office, driving strategic initiatives and enhancing member engagement
- Oversaw tax compliance for diverse investment entities, including hedge funds, private equity, fund of funds, management companies, SPACs, Sponsors, corporations (domestic and international), GPs, and PFICs
- Conducted comprehensive tax analysis for hedge funds on trading issues (capital vs
- Ordinary, investor vs
- Trader), straddles, wash sales, constructive sales, short sales, mark-to-market treatment of 1256 contracts and 988 income, and swaps
- Managed US federal and state income tax withholding for foreign persons (FDAP & ECI) and pass-through entities
- Addressed partner-level issues, including allocations, and transfers
- Handled fund of funds issues, including control of underlying investments (K-1s and PFIC statements) and appropriate footnote disclosures
- Developed budgets and assembled teams to service client engagements
- Supervised preparation processes, including deliverable timing, client billings, and quality reviews
- Trained and mentored staff in tax analysis, preparation, and research
- Fostered strong client relationships
- Coordinated engagements with remote staff across the US and India
- Administered non-security trading income, including reportable transactions, 'check-the-box' elections, partnership agreements, master feeder structures, and Indirect Tax compliance
Tax senior Manager, Financial services Group
Ernst & Young. LLP
02.2005 - 07.2015
- Managed tax compliance for investment partnerships and related entities, including hedge funds, private equity, fund of funds, management companies, oil & gas, corporations (domestic and foreign), GPs, and PFICs
- Conducted hedge fund tax analysis on issues such as trading (capital vs
- Ordinary, investor vs
- Trader), straddles, wash sales, constructive sales, short sales, ORD, mark-to-market treatment of 1256 contracts and 988 income, OID, market discount, swaps, and non-security trading income
- Addressed US federal and state income tax withholding for foreign persons (FDAP & ECI) and pass-through entities
- Handled partner-level issues, including allocations, transfers, and maintaining outside basis in partnerships
- Managed fund of funds issues, including control of underlying investments (K-1s and PFIC statements) and appropriate footnote disclosures
- Developed budgets and formed teams to service client engagements
- Oversaw preparation processes, including briefings, deliverable timing, client billings, and quality reviews
- Trained and developed staff in tax analysis, preparation, and research, including national training for Tax Staff 1
- Maintained excellent client relations
- Coordinated engagements with remote staff across the US and India using electronic client files
- Reviewed Income Tax Review Memos on ASC 740 and handled IRS and state tax notices
- Managed non-security trading income, including investment PTP, reportable transactions, 'check-the-box' elections, partnership agreements, master feeder structures, and SALT compliance
Senior Staff, Financial services Group
American Express Tax & Business Service, Inc. (formerly GGK)
12.2001 - 01.2005
- Analyzed hedge funds with diverse investments (long/short stocks, bonds, calls, puts, forwards, swaps, foreign currency)
- Performed tax adjustments for hedge funds, including wash sales, constructive sales, short sales, straddles, ORD, Sec
- 1256 contracts, and Sec
- 988, ensuring IRS compliance
- Prepared income tax returns for partnerships (broker/dealer & hedge fund 1065), C and S Corporations
- Reviewed income tax returns for high-net-worth individuals
- Handled IRS and state tax notices
- Prepared informational returns, including gift tax, trust, and foundation returns
- Managed New York State audits for clients
Education
Bachelor of Business Administration - Accounting
Pace University
NY, NY05-1997
Skills
- Investment Partnership Compliance
- Staff Development
- Time Management
- Maintaining Client Relations
Accomplishments
- Drove significant growth in the Florida office by expanding the team within the Financial Services niche and currently lead the office.
- Contributed to the establishment of various TMRGs at Withum, which have been successfully in place for many years.
- Actively participate in the “HOLA” TMRG, supporting and advocating for our Latina X team members.
Affiliations
- Enroll Agent
- Proficient in Excel, Word, Outlook and GoSystems
- Fluent in Spanish
- Florida Institute of Certified Public Accountants (FICPA)
- 'HOLA' TMRG Committee Member
Certification
Enrolled Agent
Fred Withum Strengthen Award three years nomination
Nominee, Frederick S. Withum Outstanding Individual Achievement Award
- Recognized for exhibiting dedication, excellence, and a positive attitude.
- Demonstrated creativity, innovation, and determination in converting promising ideas into major firm initiatives.
- Honored for embodying an entrepreneurial spirit, strong work ethic, and achieving extraordinary accomplishments that strengthened both personal and firm success.
Languages
Spanish
Professional Working
Timeline
Tax Principle, Financial Services Niche
Withum
07.2015 - Current
Tax senior Manager, Financial services Group
Ernst & Young. LLP
02.2005 - 07.2015
Senior Staff, Financial services Group
American Express Tax & Business Service, Inc. (formerly GGK)
12.2001 - 01.2005
Enrolled Agent
Bachelor of Business Administration - Accounting
Pace University
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