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Abbott remarks on a few family photo that Costello brought. He warns Lou that income tax time is right around the corner. They discuss the confusing questions found in income tax forms. Expenses, deductions, solutions to paying taxes and more. A knock at the door brings an IRS agent making demands on future taxes. Abbott warns Lou about the need to be honest and reporting is taxes.
The gents travel to the income tax office. Can the accountant offer them any good help? Lou tells about mishaps from his uncle Mike filling out his tax forms.
Bud Abbott’s wife Betty arrives. Amid insults, she wants to hire Lou to mow her lawn. However, if he takes any money before Tax Day, he may have to pay his taxes. More opportunities to give Lou money keep coming. Susan Miller arrives to sell him some raffle tickets. Naturally, he wins the raffle of 3000. Should he be happy, or sad? He manages to make a homeless woman very happy with the thousand dollars. When a robber holds them up, he has the chance to get rid of the other $2000. Instead, the robber has income tax woes and gives him $35,000. Even the homeless woman comes back to share her winnings after successful horserace.
