Stephen Baldwin arrested for tax evasionStephen Baldwin was arrested on Thursday for alleged tax evasion. He was charged with repeated failure to file income taxes.

According to the Rockland County D.A’s office press release, the actor owes the State of New York over $350,000 worth of taxes. The sum includes penalties and interests for 2008, 2009 and 2010.

District Attorney Thomas Zugibe said during an interview that, given the severe fiscal shortfalls the New York state faces at the moment, the authorities cannot sit back and allow wealthy residents to “break the law and cheat on their taxes”. Also “the defendant’s repetitive failure to file returns and pay taxes over a period of several years contributes to the sweeping cutbacks and closures in local government and in our schools,” was added.

Zugibe showed little tolerance toward tax evasion as he plans to continue investigating and prosecuting those who attempt to cheat the tax system.

Baldwin, of Upper Grandview New York, was arraigned in Nyack Justice Court and released without bail on his on recognizance. He pleaded not guilty. The actor will be back in court on February 5th 2013. If convicted the “Usual Suspects” star could be sentenced to up to four years in prison.

The 46-year old actor, brother to Alec, Billy and Daniel, filed for bankruptcy in 2009. Stephen is the youngest of the acting brothers and best known for his performances in “The Usual Suspects” and “Born on the Fourth of July”. The next season of “The Celebrity Apprentice” airing on NBC is supposed to include appearances from Baldwin.