160-36 91st Street

Howard Beach, NY 11414

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(718) 848-6940

Mon to Sat: 9 am - 7 pm

Sun: 9 am - 5 pm

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Accounting & tax services

Our firm specializes in individual, fiduciary, and small business tax filings. We also assist with financial planning and other financial concerns.

Meet our Team

INDIVIDUAL & SMALL BUSINESS TAX FILINGS

Expert consultation on
individual and small business tax filings.

Retirement counseling

Income tax ramifications related to benefits offered to members of the NYPD and tactics to defer income tax on the lump-sum Terminal Leave benefit.
tax

Tax Relief for Victims of Terrorist Attack

Tax forgiveness is available for those who pass away from injuries or illnesses attributed to terrorist attacks which include 9/11 related illness.

Long-Term Investments

High-Yield, No Risk five-to-seven-year investments.

life insurance

Life insurance planning and review of your existing policy.

WHY WORK WITH US

Bifulco Tax & Consulting, LLC. can assist you with all your tax preparation and filing needs. Our firm specializes in individual, fiduciary, and small business tax filings. We also assist with financial planning and other financial concerns. This year we are taking appointments over the phone, by video conference, and in person.

Frank Bifulco

Tax Preparer and financial Advisor

Frank is a licensed financial advisor and licensed Life and Health insurance agent. If you have financial questions, Frank can…

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Kellie Caputo

Irs Registered Preparer

Kellie is an IRS registered preparer and is returning for her twelfth year completing tax returns for the office.

View Details
why work

WHY WORK WITH US

5 Main Reasons To Choose Us

At Bifulco Tax & Consulting, LLC, our team of professionals provides expert consultation on individual and small business tax filings.

We provide retirement counseling, including discussions of the varied income tax ramifications related to benefits offered to members of the NYPD.

We offer a comprehensive analysis of pension “option costs” and survivor benefits to assure you maximize your retirement benefits.

Our team of professionals offer tactics to defer income tax on the lump-sum Terminal Leave benefit.

Our Financial Planners offer life insurance planning, which includes a free review of your existing life insurance policies.

Contact Us Today And Get

Your Free Consultation

Book an appointment
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What to Bring

As you know, we pride ourselves on being able to complete your tax return at the time of your scheduled appointment. With our extensive knowledge of the tax code and our highly efficient computer system, completing your tax return is possible as long as you come to our office prepared. To ensure you have the correct documents and information, we have prepared the following list of important items to bring with you at the time of your appointment. Please bring with you:

  • For new clients only, a copy of last year’s tax return.
  • Social security number and date of birth for any dependent not claimed on last year’s tax return.
  • If you pay child care expenses, the names, address, social security number or tax ID number of all child care providers for children under age 13.
  • Closing disclosure form related to the purchase, sale, or re-finance of a residence.
  • Driver’s License or government-issued identification.
  • If you sold any stocks, mutual funds, bonds, etc., you must provide the original cost, date purchased, selling price, and date sold.
  • If you own rental property, a detailed summary of all income and expenses (heating cost, water bill, electricity, repairs, etc.)
  • For new clients only, a copy of last year’s tax return.
  • If you own your own business, a detailed summary of business income and expenses.
  • If you own rental property, a detailed summary of all income and expenses (heating cost, water bill, electricity, repairs, etc.).
  • If you made estimated tax payments, the dates and amounts of each estimated payment made to both the Internal Revenue Service and New York State.
  • All Forms W-2 and Forms 1099.
  • If you own your residence, the bank statement (Form 1098) indicating the mortgage interest and real estate taxes paid for the year. Cooperative owners must also bring the annual statement detailing the tax deductible portion of your monthly maintenance payment.
  • If you claim education credits, Form 1098T and student loan interest, Form 1098E.
  • If you are an NYC employee and subject to the “Tax Waiver”, Form 1127 (Form 1127 appears similar to Form W-2 and is given to you at the same time as your W-2). The NYCAPS website gives ready access to these forms.
  • New York State Form 1099-G Unemployment Insurance – if received. Click here for instructions to receive your 1099-G.
  • Any other documents or information that you think may be important in preparing your tax return.

Tax Forgiveness for Victims of 9/11 Terrorist Attacks

A lesser-known tax legislation allows for the IRS and New York State to forgive income tax liabilities of decedents who died as a result of the terrorist attacks of September 11th, 2001. If you are the surviving spouse, or personal representative of a 9/11 victim who passed away in or after 2022 as a result of the attacks, we can assist you in filing a claim. Within the open refund period, any forgiven tax liability of the decedent that has already been paid will be refunded. Generally, the open refund period dates three years back (2023, 2024, and 2025) .

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Federal Relief

A surviving spouse can amend past tax returns to recoup the tax liability of their deceased spouse.

A “personal representative” can amend past tax returns for decedents who filed Single, Married Filing Separately, Head of Household or Qualifying Widow(er).

There is no cap on the amount of tax dollars that the surviving spouse or personal representative can have refunded back to them.

Qualified decedents are eligible to a minimum amount of $10,000 in federal tax forgiveness under this provision. A credit is allowed on the decedent’s final year tax return for the difference between $10,000 and total tax forgiveness for all prior years.

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Federal Relief
  • A surviving spouse can amend past tax returns to recoup the tax liability of their deceased spouse.
  • A “personal representative” can amend past tax returns for decedents who filed Single, Married Filing Separately, Head of Household or Qualifying Widow(er).
  • There is no cap on the amount of tax dollars that the surviving spouse or personal representative can have refunded back to them.
  • Qualified decedents are eligible to a minimum amount of $10,000 in federal tax forgiveness under this provision. A credit is allowed on the decedent’s final year tax return for the difference between $10,000 and total tax forgiveness for all prior years.
New York State Relief
  • A surviving spouse can request to recoup the tax liability for their deceased spouse.
  • A spouse may collect a maximum of $30,000 in tax forgiveness for their deceased spouse from New York State.
  • Tax forgiveness in excess of $30,000 will be refunded to the decedent.
  • A maximum of $15,000 may be collected by their children, parents, siblings, nieces, nephews, or a creditor who has paid funeral expenses at the request of the spouse or one of the decedent’s relatives.
  • New York State tax forgiveness comes from the “decedent’s funds,” not New York State funds.
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Tax Forgiveness for Victims of 9/11 Terrorist Attacks

A lesser-known tax legislation allows for the IRS and New York State to forgive income tax liabilities of decedents who died as a result of the terrorist attacks of September 11th, 2001. If you are the surviving spouse, or personal representative of a 9/11 victim who passed away in or after 2022 as a result of the attacks, we can assist you in filing a claim. Within the open refund period, any forgiven tax liability of the decedent that has already been paid will be refunded. Generally, the open refund period dates three years back (2023, 2024, and 2025) .

Federal Relief
  • A surviving spouse can amend past tax returns to recoup the tax liability of their deceased spouse.
  • A “personal representative” can amend past tax returns for decedents who filed Single, Married Filing Separately, Head of Household or Qualifying Widow(er).
  • There is no cap on the amount of tax dollars that the surviving spouse or personal representative can have refunded back to them.
  • Qualified decedents are eligible to a minimum amount of $10,000 in federal tax forgiveness under this provision. A credit is allowed on the decedent’s final year tax return for the difference between $10,000 and total tax forgiveness for all prior years.
New York State Relief
  • A surviving spouse can request to recoup the tax liability for their deceased spouse.
  • A spouse may collect a maximum of $30,000 in tax forgiveness for their deceased spouse from New York State.
  • Tax forgiveness in excess of $30,000 will be refunded to the decedent.
  • A maximum of $15,000 may be collected by their children, parents, siblings, nieces, nephews, or a creditor who has paid funeral expenses at the request of the spouse or one of the decedent’s relatives.
  • New York State tax forgiveness comes from the “decedent’s funds,” not New York State funds.
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CONTACT US

Contact Information

160-36 91st Street

Howard Beach, NY 11414

(718) 848-6940

(718) 848-6664

Send us a message

This year appointments will be taken in person or via telephone or video conference. To set up an appointment, please call the office at (718) 848-6940.

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Bifulco Tax & Consulting, LLC can assist you with all your tax preparation and filing needs. Our firm specializes in individual, fiduciary, and small business tax filings. We also assist with financial planning and other financial concerns.

Book an appointment

© Bifulco Tax & Consulting, LLC. – 2021.
All rights reserved.

CONTACT INFO

160-36 91st Street

Howard Beach, NY 11414

Mon - Sat: 9AM - 7PM

Sun: 9AM - 5PM

(718) 848-6940

QUICK INFO

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