Rick Jackson Battles IRS Over $90 Million Film Tax Deductions Before Georgia Runoff
Updated
Updated · The New York Times · Jun 12
Rick Jackson Battles IRS Over $90 Million Film Tax Deductions Before Georgia Runoff
1 articles · Updated · The New York Times · Jun 12
Summary
$90 million in deductions claimed by Rick Jackson’s investment group from four money-losing films are at the center of three court battles with the IRS.
Those tax fights stem from accounting maneuvers that turned low-budget productions into tax windfalls even though the movies barely registered at the box office.
"The Best of Enemies," Jackson’s biggest film, grossed about $10 million in 2019 and still failed to break even despite state and federal tax breaks.
The dispute adds scrutiny to the billionaire Republican gubernatorial candidate as he heads into Tuesday’s Georgia primary runoff on a message of affordability and self-made business success.