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Stephen Baldwin was arrested and arraigned today on one count of repeated failure to file personal income tax returns, ET has learned.

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According to a press release from the Rockland County D.A.'s office, Baldwin, 46, allegedly owes more than $350,000 in taxes to the State of New York, including penalties and interests for years 2008, 2009 and 2010.

"At a time when Rockland County and New York State face severe fiscal shortfalls, we cannot afford to allow wealthy residents to break the law by cheating on their taxes," said District Attorney Zugibe. "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. My Office will continue to investigate and prosecute those who cheat our tax system for their personal gain."

The actor, who filed for bankruptcy in 2009, is due back in court on February 5, 2013 and faces up to four years in state prison if convicted, according to the Rockland County D.A.'s office.

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