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Michael Cohen, President Donald Trump's combative former personal lawyer, has entered into a plea deal with federal prosecutors in New York, a source close to Cohen said Tuesday.

Cohen is expected to appear at 4 p.m. in federal court in Manhattan Tuesday afternoon to formally offer his guilty plea to a federal judge.

Prosecutors from the U.S. Attorney's Office for the Southern District of New York have been investigating Cohen for months over allegations of tax fraud, bank fraud and campaign finance violations stemming from hush payments he arranged to women, including adult-film star Stormy Daniels prior to the 2016 presidential election.

Cohen agreed to the plea "to save millions of dollars, protect his family, and limit his exposure," the source said.

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