Cheese In, Whiskey Out
Open full sizeDebits & Credits, September 13, 2026. Laughs are nonrefundable.
Transcript. Panel 1, an importer on a loading dock holds a Canadian whiskey bottle and a wheel of cheddar: “Whiskey over four liters comes off the fifty-percent list Tuesday.” Panel 2, the same importer frowns at the Harmonized Tariff Schedule; a calendar circles September 15 and a sign reads 12:01 a.m. ET: “Cheddar goes on. And 338 now stacks with 232.” Panel 3, Debit at his desk with his “It depends.” mug, red pencil in hand, Form 1040-ES in front of him: “Estimated tax is due the same morning. Pay first. Reclassify the cheese after midnight.” Caption: Section 338 rewrites the annex at 12:01. The 1040-ES is due the same morning.
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This alert is for general information only and is not tax, legal, investment, or accounting advice. Consult your own advisers before acting. Carlos A. Schmidt, MBT, MBA, CPA · Managing Member · carlos@lapresallc.com · (917) 558-6393.