A Whippany man pleaded guilty Thursday to underreporting more than $1.1 million on his taxes from income gained through the ownership of several northern New Jersey auto parts stores.Marques was charged in a civil complaint from the U.S. Attorney's Office in September with evading tax payments on more than $2 million between Nov. 15, 2005 and Feb. 13, 2012 — money he allegedly used to purchase or make improvements on eight properties.
Marques, the owner of Wilson Auto Parts, admitted in his plea that he underreported $1,153,579 in income from his auto parts stores for 2009 through 2011, which he diverted from the businesses for his personal use, Fishman said.
"Marques’ intentional failure to disclose true, correct and complete information to the IRS resulted in a tax loss to the United States of approximately $375,869," Fishman said in the news release.
Fishman said Marques agreed to pay back the IRS for all losses resulting from his filing of false tax returns. Marques will also forfeit $1 million in a related civil case with the U.S. Attorney’s Office.
Filing false tax returns carries a maximum potential penalty of three years in prison and a $250,000 fine. Marques is scheduled to be sentenced on Sept. 18.
Special agents of IRS-Criminal Investigation, under the direction of Special Agent in Charge Shantelle Kitchen, conducted the investigation, Fishman said.
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