ESPN's Adam Schefter reported the news Tuesday.
While Cousins is set to play under the franchise tag for the second consecutive year, Schefter said there is an "improved tone" between the Redskins and their star signal-caller.
The 28-year-old Cousins was named to the Pro Bowl for the first time last season, as he threw for a career-high 4,917 yards to go along with 25 passing touchdowns, 12 interceptions and four rushing touchdowns.
In 2015, Cousins surprisingly led Washington to the NFC East crown and led the NFL by completing 69.8 percent of his passes.
Cousins is set to make nearly $24 million in 2017, per Spotrac, but he has no long-term security from a contractual perspective.
The Redskins and Cousins won't be able to negotiate again until after the season if they don't reach a deal by July 17.
According to ESPN.com's Dan Graziano, the belief is that Cousins will command upward of $30 million per year if he hits the open market next offseason.