Credit where it's due - investment tax credit for tv variety and game show production costs

Nation's Business, Oct, 1985 by Gerald W. Padwe

Two recent cases, one in the U.S. Tax Court and one in the U.S. Court of Claims, have held that the costs of producing TV variety or game shows qualify for investment tax credit. These holdings are directly contrary to IRS regulations that specifically state that such shows are not entitled to the credit.

The IRS has already filed an appeal it. The IRS has already filed an appeal in the Tax Court decision involving "To Tell the Truth." The Claims Court decision involving "The New Bill Cosby Show" and "The Joker is Wild" probably will also be appealed.