Tax comic · September 2026

The Midnight Annex

Debits & Credits · Section 338 · Section 232 · Tariffs

Debits & Credits comic strip: The Midnight Annex. Transcript below.Open full size

Debits & Credits, September 14, 2026. Laughs are nonrefundable.

Transcript. Panel 1, a night dock, the clock at 11:59. A customs clerk stands over pallets of rock salt stamped 50% §338 and unmarked cheddar. Clerk: “Salt pays fifty. Cheese walks.” Importer: “Same truck.” Panel 2, the clock reads 12:01. A red X covers the salt stamp; the cheddar sits on a furniture crate now stamped 50% §338; a metal beam is marked 232 and 338. Importer: “What changed?” Clerk: “The annex.” Panel 3, Debit at his desk with his “It depends.” mug and a stack of proclamations (IEEPA crossed out, §122 expired, §301, §232, §338). Importer: “Is there a principle?” Debit: “12:01 a.m. Eastern.” Caption: Section 338 list changes take effect at 12:01 a.m. ET September 15. Salt comes off. Cheese and furniture go on. Some lines now stack with Section 232.

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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.