ABBOTT & COSTELLO (LOU COSTELLO) - DOCUMENT SIGNED 01/31/1955 - HFSID 173146

ABBOTT & COSTELLO: LOU COSTELLO
IRS form listing tax deficiencies from 1950 and 1951, signed and dated by Costello in 1955. Both Costello and his partner Bud Abbott would wind up virtually broke over tax problems two years after this form was signed.
Document signed: "Lou Costello/Pres./1/31/55", 1 page, 8x10½. 1948 tax form, with Cosman Productions embossing near left edge. Jan. 31, 1955. Carbon copy. Headed: "Offer of Waiver of Restriction on Assessment and Collection of Deficiency in Tax and of Acceptance of Overassessment". According to this document, Costello's production company Cosman Productions, Inc. had tax deficiencies of $4,337.99 for 1950 and $1,127.56 for 1951. Both Costello and his partner Bud Abbott would wind up virtually broke in 1957 over tax issues. Costello appeared in two films in 1955: Abbott and Costello Meet the Keystone Kops and Abbott and Costello Meet the Mummy. With partner Abbott, Costello (1906-1959) formed one of the greatest comedy teams in the history of show business. They mastered the straight man/clown relationship, creating a magical chemistry that took them from vaudeville and burlesque to radio, Broadway, film and television. The Abbott & Costello Show aired on radio on ABC from 1941-1946 and on NBC from 1946-1949. Abbott and Costello were also guest hosts of NBC's hour-long live variety show, The Colgate Comedy Hour seven times between 1951-1954. Their "Who's on First?" routine is enshrined in the National Baseball Hall of Fame. Abbott and Costello split up in 1957 after troubles with the Internal Revenue Service left both men broke. Lightly creased. Two binder holes at top. Staple holed on left edge. Carbon copy marks. Folded twice horizontally and unfolded. Otherwise, fine condition.