Brick Township Business Owner Admits To Keeping Nearly $1M In Employees Taxes From IRS: Feds

A Brick Township construction company owner admitted to withholding his employees' taxes and not paying the money to the IRS, authorities said.

Gavel.
Photo Credit: *Pixabay/sergeitokmakov-3426571*

Chris Spiker

09/27/2024 10:00 a.m.

Gerard Artz, 44, pleaded guilty on Thursday, Sept. 26 to failure to collect and pay over taxes, New Jersey's U.S. Attorney Philip R. Sellinger announced. He was the owner of Prime Installations, which operated in Brick and New York City.

According to court documents and statements, Artz directed his company to withhold employment taxes from the company’s employees’ paychecks between 2016 and 2020. Prime Installations failed to collect and pay over $937,943 to the IRS in employment taxes.

Artz faces up to five years in prison and a $250,000 fine. He also agreed to pay the $937,943 in restitution to the government.

Sentencing was scheduled for Wednesday, Feb. 5, 2025.

Click here to follow Daily Voice Brick and receive free news updates.