A ridiculous technicality costs Carly her streak of straight A's. The next day as Sam is being punished, she manages to fix Carly's grades with the school computers(and for some reason, Freddie's), and makes her promise not to tell anybody. Because Sam's scheme involves Freddie, Carly decided to tell only him about it, and Carly can't decide whether the guilt over Sam's amateur hacking or Freddie's sophisticated effort to undo the fix will gnaw away at her conscience first.
On the fifth anniversary of their friendship, Carly gives Sam a one-of-a-kind iCarly T-Shirt as a gift. Desperate for an attempt to return the favor, Sam tries to buy a pair of hard-to-find concert tickets for Carly's favorite band from a scalper. With no other means to purchase the tickets, she sells him the shirt and puts both Carly's show and their friendship at risk.
Carly, Sam, and Freddie get a cash-boost for their show when a shoe company gets them to promote a trendy new pair of shoes. The trouble is that the shoes are extraordinarily bad, and the backlash they get at school and on the web hits them hard. It doesn't help that they find themselves unable to break out of their contract with the shoe company... or are they?
Plans for the landmark 50th web cast of iCarly are at risk of being curtailed when Sam gets detention. Realizing she can't do the show without her co-host, Carly and Freddie try to get in trouble themselves, so they can do the live web cast from their school's detention room. However, deliberately trying to get detention proves to be far more difficult than Carly can imagine, and even harder for Freddie.
The Seattle Police Department uses Carly and Spencer's apartment for surveillance when a suspected video pirate is seen in the background of an iCarly webcast. One of the cops turns out to be a former bully that Spencer knew at summer camp, who sadly hasn't change that much since he was a kid.
Realizing that his time with Carly and Sam has become too girly(despite his lingering crush on Carly), Freddie seeks some "guy time" with Spencer, which happens to be a fencing class for which Freddie turns out to be quite the swordsman. During this period, Freddie gets caught up in the rivalry between Spencer and a snobbish posse of fencers lead by Doug Toder, and finds himself competing with him in a duel. When his fretful mother finds out, she reveals a family secret in a last-ditch effort to try to talk him out of the competition. In the meantime, Carly is forced ...
A television programming director realizes that iCarly is funnier than anything his network currently has available for the upcoming fall lineup. Unfortunatley, upon acquiring the show, the network takes it further and further away from Carly's original vision, and exploits and torments Freddie more than Sam and his mother combined.
Lauren Ackerman, Carly's history teacher has become an emotional wreck after her boyfriend dumps her, and she takes her heartache out on everybody in class, including Carly. When Spencer discovers her agony during what passes for a parent-teacher conference, he decides to be her new knight in shining armor and fills the hole in her heart. Though things go smoothly for Spencer, Miss Ackerman, and her class at first, soon Spencer, Carly, Sam, and Freddie find that it's going to take a lot more than just a little loving to keep the teacher happy, and her class safe.
When Sam hears that Freddie is fed up with her "borrowing" money, and Carly convinces her his complaints are legitimate, Sam takes desperate measures to try to pay back everybody she owes, ranging from pleading for money on Carly's web-show to... of all things, getting a job! Meanwhile, Spencer volunteers to sell fudge-balls for a shy Sunshine Girl in order to impress her attractive single mother.
The annoying doorman Lewbert gets injured during an "iCarly" sketch, and he and Freddie's mom end up falling in love with each other while she nurses him back to health. As Spencer fills in for him, he finds an old Citizens Band Radio and decides to put it back to use so he can play around with it, which unfortunately infuriates a convoy of truck drivers.
Paying homage to "It's a Wonderful Life" and lifting dialogue from "A Charlie Brown Christmas," when Spencer builds a metal Christmas tree containing an electromagnet that sets the gifts that Carly plans to give on fire, she wishes that her brother had been normal. An angel named Mitch hears her wish and grants it, which teaches her a valuable lesson.