A Brooklyn man faces five years in federal prison after pleading guilty to tax fraud Tuesday, according to a state Department of Justice release.
Eric Grace, 50, filed a false income tax return in 2010, officials said. Grace underreported the gross receipts from his business, E.J.’s Paint and Repair, by $129,559.
Although Grace entered a guilty plea, in a plea agreement he agreed to pay $166,000 in back taxes from 2008-2011, according to the release.
Grace faces a maximum sentence of five years in federal prison.
Sentencing is scheduled for Sept. 15.