Ray Casella

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Ray practices in all areas of federal, state and local tax law. He has extensive experience representing tax-exempt organizations including schools, private foundations and public charities. Ray regularly deals with federal and state income tax issues, Connecticut sales and use tax issues, federal and state payroll tax issues, and private foundation excise taxes.

Latest Articles

For years now, the Connecticut Department of Revenue Services (DRS), the Connecticut Department of Labor (DOL) and the Internal Revenue Service (IRS) have been targeting Connecticut employers for worker misclassification audits. When a misclassification is discovered, these government entities can share information about employers who have misclassified employees as independent contractors. Thus, when one of these government entities finds a misclassification during an audit, audits from the other governmental entities are likely to arise.…
For years now, the Connecticut Department of Revenue Services (DRS), the Connecticut Department of Labor (DOL) and the Internal Revenue Service (IRS) have been targeting Connecticut employers for worker misclassification audits. When a misclassification is discovered, these government entities can share information about employers who have misclassified employees as independent contractors. Thus, when one of these government entities finds a misclassification during an audit, audits from the other governmental entities are likely to arise. When a…
The IRS recently released two notices to provide guidance for tax-exempt organizations about how to comply with the new provision that they treat employer-provided parking and qualified transportation fringe benefits as unrelated business taxable income (“UBTI”). This unprecedented treatment of expenses as income created substantial uncertainty about how to calculate the UBTI from the parking benefits and how to address the passing of estimated tax payment deadlines. Notice 2018-99 provides guidance on calculating UBTI from…
The IRS recently released two notices to provide guidance for tax-exempt organizations about how to comply with the new provision that they treat employer-provided parking and qualified transportation fringe benefits as unrelated business taxable income (“UBTI”). This unprecedented treatment of expenses as income created substantial uncertainty about how to calculate the UBTI from the parking benefits and how to address the passing of estimated tax payment deadlines. Notice 2018-99 provides guidance on calculating UBTI from…
Although the 2018 legislative session of the Connecticut General Assembly ended with the adoption of bipartisan budget legislation, it was marked by a continued failure to conduct a more holistic review of the state’s sources of expense and revenue.  Such a review was invited by the 2015 report of the State Tax Panel and the more recent report of the Commission on Fiscal Stability and Economic Growth, but there seemed to be little appetite for…
On November 5, 2018 the Internal Revenue Service released proposed regulations addressing the filing requirements related to the Tax Cuts and Jobs Act’s federal excise taxes on an exempt organization’s executive compensation in excess of $1,000,000 and excess parachute payments. The proposed regulations provide that IRS Form 4720, Return of Certain Excise Taxes, is to be used for reporting the excise taxes and that Form 4720 must be filed by the 15th day of the…
Connecticut Tax Developments is published by the State and Local Tax Practice as a service to clients and friends. The contents are intended for informational purposes only, and the advice of a competent professional is required to address any specific situation. Reproduction or redistribution is permitted only with attribution to the source.…
Join Shipman & Goodwin tax attorneys for the fourth installment of this four-part CLE webinar reviewing some of the more significant provisions of the Tax Cuts and Jobs Act. This session will review changes in the pension, compensation, and fringe benefits areas as well as an overview of the provisions of the new Act affecting 501(c)(3) tax exempt organizations. When: March 27, 2018, 12:00 PM – 1:00 PM EDT Where: Webinar   This CLE program has…
The Tax Cuts and Jobs Act (the “Act”) may take the Qualified Charitable Distribution (QCD), a planning technique authorized in IRC Section 408(d)(8) that allows charitable contributions to be made directly from an IRA, and turn it into a household name. Here is an explanation of why it will be so popular, and exactly how it works. Who will find QCDs attractive? If: (i) you are already over 70 ½, or will be during 2018;…