Same Box, New Statute
Open full sizeDebits & Credits, September 22, 2026. Laughs are nonrefundable.
Transcript. Panel 1, a customs warehouse; a CFO holds a giant CBP check for $12,000,000 marked IEEPA REFUND, standing beside a crate stamped ORIGIN: ANYWHERE. CFO: “The Court said the emergency tariff was unlawful. We got our money back.” Panel 2, the same crate; a Customs officer slaps on a manila invoice stamped SEC. 301 — FORCED LABOR DUTY — $12,000,000. CFO: “That’s the same crate.” Officer: “Different statute. Don’t mix them.” Panel 3, Debit at his desk, red pencil, the “It depends.” mug, a folder marked TARIFF RULINGS 2024–2026. Debit: “Seventy percent of firms parked the refund as cash. The rest used it to pay the replacement duty. The crate never left Oakland.” Caption: The statute changed. The pallet did not.
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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.