In last month’s Bottom Line newsletter, we explained how the IRS has slowed the processing of any new Employee Retention Credit claims, in order to guard against fraudulent or incorrect submissions. The ERC is a pandemic-era relief program made up of refundable tax credits designed for businesses that…
The U.S. Department of Education’s COVID-19 relief for student loans has ended. Student loan interest has resumed starting on Sept. 1, 2023, and payments are due starting in October 2023. This means that Federal student loan borrowers will need to start making payments again this month after a…
Our team recently enjoyed a fun, fresh start to their day when LMC invited Agavi Organic Juice Bar to the firm’s kitchen to create individualized acai bowls for our employees. Everyone enjoyed the delicious Acai bowls and were able to choose from a variety of toppings…
LMC is honored to announce that for the first time, the firm has been named one of the 2023 Best Firms to Work For by the publication, Accounting Today. The annual prestigious list recognizes the top 100 accounting firms in the country. As quoted in AccountingToday,…
LMC is proud to have recently supported the organizations Sephardic Community Center (SCC), Sephardic Bikur Holim (SBH), and Long Island Disc Golf (LIDG), as each organization hosted events during August. On Sunday, August 27th, LMC was proud to sponsor the Sephardic Community Center’s 4th annual Center Court…
The NYSSCPA Multistate & Local Taxation Committee recently held their monthly meeting at LMC’s offices, which included attendance and remarks from the NYC Tax Commissioner, Preston Niblack. Niblack was appointed commissioner of the Department of Finance by Mayor Eric Adams in December 2021. LMC Tax Manager, Jeffrey…
In the last month, the IRS announced that due to “deep concerns about dubious Employee Retention Credit claims being submitted, they have slowed the processing of these claims to guard against fraudulent or incorrect submissions.” In 2020, Congress created the Employee Retention Tax Credit as a response…
It is hard to believe that it has been a year since the passing of our Partner Emeritus, Donald Hecht. Donald was an icon in the accounting industry, as well as a visionary, whose advice and counsel was sought after by clients as well as a host of…
LMC is thrilled to announce that Lee M. Cohen, CPA, Founder and Managing Partner, has once again been honored as a Crain’s New York Business Notable Leader in Accounting, Tax & Audit for 2023. This marks the second consecutive year that Lee has received this esteemed recognition, highlighting…
To see the report in its entirety, click here LMC is thrilled to share that Managing Partner and Founder, Lee M. Cohen, CPA has been chosen as one of Accounting Today’s esteemed 2023 Managing Partner Elite. Accounting Today is the leading information resource for public accountants,…
