Young filmmaker Stevie Horowitz eagerly awaits a meeting with big shot Hollywood film producer J.P. Shelldrake. Shelldrake has been desperately searching for a way to avoid problems with the IRS and unpaid millions owed them in back taxes. His brilliant yet overpaid accountant devises a scheme to allow the producer to write off the expenses of his next movie release, but only if the film is a box office flop. Armed with his foolproof plan, Shelldrake agrees to meet with Stevie and screen his film "Lobster Man From Mars" (financed by Stevie's jailed con man Uncle Joey). The plot resembles the premise of ''The Producers (1968 film)'' by Mel Brooks.