Stephen Baldwin Pleads Guilty: Actor Allegedly On Verge Of Plea Deal To Avoid Jail Time For Failing To Pay New York State Taxes Totalling More Than $350K

Stephen Baldwin is reportedly set to plead guilty in a New York state tax case. The actor is accused of failing to pay more than $350k in back taxes and penalties, TMZ reported. 

Baldwin's lawyers said he will likely avoid any jail time.

The actor was allegedly accused of not paying up to $350,000 in back taxes to the State of New York from income taxes for 2008, 2009 and 2010.

Stephen Baldwin's lawyer, Russell Yankwitt told TMZ that the actor had struck a deal with prosecutors and in exchange for his guilty plea. Baldwin will reportedly have up to 5 years to pay back the government to avoid jailtime.

"Mr. Baldwin is very appreciative he will not be incarcerated," Yankwitt said. "He will pay back what he owes, and is looking forward to putting all of this behind him."

Stephen Baldwin, brother of famous actors Alec and William, filed for a Chapter 11 bankruptcy petition in New York, on July 21, 2009, according to a court document that says he is millions in debt.

Baldwin says he owes more than $2.3 million and owns a New York property valued at $1.1 million, Reuters reported.