NYSSCPA Distinguished Service Award
This award salutes CPA members who have distinguished themselves as Society leaders through model service within the NYSSCPA and the profession. The award celebrates those who have demonstrated outstanding dedication to and have made a remarkable impact upon the Society and the profession through endeavors such as inspirational service in leadership positions in the NYSSCPA, the development of future leaders of the Society and the profession, educational or publication efforts, public service and other activities.
Karen J. Tenenbaum, who passed away on Dec. 23 at age 64, was an active member of several NYSSCPA tax committees and the Society’s Nassau Chapter. An attorney as well as a CPA, she founded her own law firm to focus on the resolution of tax problems. Tenenbaum was a frequently sought-after expert among media outlets including Bloomberg Business News, Money Magazine, Long Island Business News, the New York Daily News, and News 12 Long Island. She also spoke about federal and New York state tax issues for numerous professional groups. In tribute to her outstanding service to the Society, she was honored posthumously with a 2024 Distinguished Service Award.
Her committee memberships are too numerous to list, but “she was an active participant in every one,” said Philip J. London, the 2023 Distinguished Service Award winner, who nominated her for this year’s award. She “was an indefatigable force of nature for all who knew her,” he said.
“Karen extensively spoke on tax law and defense at various venues, demonstrating a determined networking spirit,” he added. “She mentored numerous young lawyers and accountants, providing guidance at all career levels. A call to her was consistently met with thoughtful, helpful advice and guidance.”
NYSSCPA Past President Rumbi Bwerinofa-Petrozzello agreed. “At NYSSCPA committee meetings, social events and elsewhere, Karen went out of her way to connect with people, learn about them, and always make them feel welcome and seen,” she said.
A native of Brooklyn whose family moved to Queens when she was a toddler and then to Long Island when she was a teenager, Tenenbaum earned her B.S. in accounting from Brooklyn College, her J.D. from Brooklyn Law School and her LL.M. in taxation from New York University School of Law.
After working for several large accounting firms and then as a tax attorney at two law firms, Tenenbaum struck out on her own, founding Tenenbaum Law in Melville in 1996. Still going strong, the firm focuses exclusively on the resolution of tax problems, representing individuals and businesses that owe back taxes or that experience audit or collection issues, before the IRS and the New York State Department of Taxation and Finance.
The firm represents clients in matters including federal and state audits; IRS appeals and New York state conciliation conferences; and federal and New York state collection issues, including liens, levies, warrants and seizures, offers in compromise, installment agreements, responsible officer assessments, New York state residency audits and New York state voluntary disclosures.
“Throughout her professional journey, Karen Tenenbaum distinguished herself as a reliable adviser and advocate, specializing in tax planning, controversy and litigation,” said Orumé A. Hays, Tenenbaum’s successor as chair of the Society’s Relations with the Internal Revenue Service Committee. “Her expertise was sought after by both individuals and businesses, who relied on her wise counsel and outstanding legal abilities.”
She added that Tenenbaum played a vital role in contributing to the NYSSCPA: “She served and contributed in numerous ways to the organization, showcasing her commitment to the accounting profession and her dedication to its advancement.”
Tenenbaum’s long experience with the IRS provided her with insights and perspectives that she maximized when advocating for her clients. As chair of the Relations with the Internal Revenue Service Committee, she brought in both IRS liaisons and tax experts to speak at meetings and answer member questions. Recently, Hays and other members of the committee came together to develop a scholarship to honor her memory (see page 10). The scholarship was announced at the Annual Election Meeting and Dinner on May 9.
Active in the legal and CPA community, Tenenbaum chaired the Nassau County Bar Association Tax Law Committee and was also active in the Suffolk County Bar Association’s Taxation Law Committee. She served on the Society’s Nassau Chapter executive board for several years, receiving the chapter’s Samuel B. Traum Achievement Award.
“I know Karen has been a great advocate for the profession in the tax space and has supported and led tax committees within the NYSSCPA,” said Bwerinofa-Petrozzello. “As [she was] a Long Island resident, there can’t possibly be a Nassau or Suffolk chapter member who can [adequately] express appreciation for Karen in some way, shape or form.”
Tenenbaum was the recipient of many honors. Among them, she was named as one of “16 Leading Lawyers on Long Island” and a “Long Island Power Women in Business” by Long Island Press. She was awarded the “Leadership in Law Award” and named as one of the ”Top 50 Most Influential Women in Business” by Long Island Business News. SmartCEO awarded her the ”Long Island Future 50 Award” and named her a finalist for the ”CPA & ESQ Award.” Tenenbaum was also a recipient of the “Achievers’ Award” from the Long Island Center for Business & Professional Women. She was also honored by Schneps Media at its 2021 Power Lawyers Event.
A leading advocate for financial literacy programs on Long Island, Tenenbaum served as the inaugural chair of the Nassau Chapter’s Financial Literacy Committee. She played a key role in creating the website walterthevault.com, which is dedicated to teaching financial skills to children.
“She took her passion for this to her nonprofit, where she worked with kids, utilizing Walter the Vault to teach financial literacy from as early an age as possible,” said Bwerinofa-Petrozzello.
Tenenbaum was instrumental in launching Commerce Plaza, a children’s money education program now housed at the YES Community Counseling Center. Over the past 25 years, more than 80,000 children have benefited from Commerce Plaza, engaging in a six-week financial course. The program culminates in a field trip to the facility, offering a hands-on experience in a simulated business community.
“Participants learn how to operate businesses, balance a checkbook, think critically about money, and manage work and spending simultaneously,” said London. “For the day, children become real estate brokers, bookkeepers and bankers.”
Speaking personally, London said, “She was a cherished friend to all, and available whenever questions arose. It is regrettable that she is no longer with us to witness the profound impact she had on all of us. She unquestionably deserves this recognition for her significant service.”
“I think at times, because she was so social and such a connector, people missed all of the incredible work she did for our profession and our State Society,” said Bwerinofa-Petrozzello. “That was OK for Karen. She did not do it to be recognized. She did it because it mattered to her. And thank you to Karen for that.”
Tenenbaum is survived by her husband, Larry Tenenbaum, daughters Allison Rosenzweig and Stacie Dubnoff, as well as four grandchildren, parents Shirley and Marty Weinstein, and brothers Rich and Steve Weinstein.
On June 27, the Nassau Chapter presented “A Special Evening of Networking in Honor of Karen Tenenbaum.”
ssteinhardt@nysscpa.org