Actor Stephen Baldwin will avoid prison and have up to five years to pay back a tax bill of around $350,000 (£235,000), according to his legal representative.
Lawyer Russell Yankwitt explained the deal after a private conference with prosecutors and a judge in New York.
The youngest of the acting Baldwin brothers is accused of not paying state income taxes between 2008 and 2010.
Mr Yankwitt said that under a tentative agreement, Baldwin will plead guilty to tax charges later this month.
He added that if Baldwin pays the money within a year, his record will be wiped clean.
If not, he will be sentenced to probation and given five years to pay back the cash.
Prosecutor Anthony Dellicarri confirmed that a tentative agreement had been reached on a plea deal but would not detail the specifics.
Asked how Baldwin would pay back the money, Mr Yankwitt replied: "He's doing commercials, he's acting, he's out in the public."
Baldwin has been heard on New York radio in recent days, in a commercial for a teeth-whitening system.
"The economy is not what it was, and Mr. Baldwin is a faith-based actor, which makes it harder to get roles," said Mr Yankwitt, describing Baldwin as a born-again Christian.
"In the past, he did movies that portrayed violence and drugs. He no longer does those types of movies."
Baldwin's brother Alec was a star of TV's "30 Rock," and brothers William and Daniel also are actors.
When Mr Yankwitt was asked if they were helping Stephen, he said only: "Mr. Baldwin is thankful for the love and support of his family."
He claimed that Baldwin got into trouble because he "relied on others," including an accountant and a lawyer".
He added: "He never intended to defraud the government. The government understands that."
The 46-year-old was one of the stars of the critically-acclaimed 1995 hit The Usual Suspects, but later films in which he starred were less successful.
More recently, Baldwin has appeared in reality TV shows, including Celebrity Big Brother in 2010 and the US versions of I'm A Celebrity ... Get Me Out Of Here! and Celebrity Apprentice.
He filed for bankruptcy in July 2009, claiming he had debts of around $2.3m (£1.5m), while his New York property was worth only $1.1m (£0.7m).
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