Stephen Baldwin pleaded guilty to tax evasion on Friday. He will be forced to pay $300,000 to the IRS as a result.
The actor admitted in court that he had skipped out on three years worth of taxes between 2008 and 2010. Although the total damage was around $400,00, the judge said the actor had already repaid $100,000.
Stephen Baldwin will attempt to repay the entire $300,000 over the 12 months. His record will be wiped clean should he can take care of his debt within that period of time.
If the Usual Suspects co-star cannot repay the money, then he will be placed on probation for five years. The actor will also be required to take care of the debt during that period of time.
Baldwin, who is currently on All-Star Celebrity Apprentice, told reporters that he was looking forward to putting this part of his life behind him.
“Unfortunately, I got some really bad suggestions and advice… from lawyers and accountants. I’m just grateful for the opportunity to rectify this situation,” the actor explained after his court appearance.
Stephen Baldwin will be required to return to court this June.
The actor learned earlier this month that he wouldn’t have to spend time behind bars for not paying his taxes. Although Baldwin is starting to get more work, attorney Russell Yankwitt admitted that the actor is still having some difficulty making ends meet.
“Mr. Baldwin is very appreciative he will not be incarcerated. He will pay back what he owes, and is looking forward to putting all of this behind him,” Yankwitt said.
He added, “Mr. Baldwin is a faith-based actor, which makes it harder to get roles. In the past he did movies that portrayed violence and drugs. He no longer does those types of movies.”
Internet Movie Database lists the actor as being attached to a number of upcoming projects. Included in the list are director Carey Scott’s To the Wall and the drama Mother of War.
What do you think about Stephen Baldwin having to pay $300,000 in back taxes?