The Hook Swap
Open full sizeDebits & Credits, October 3, 2026. Laughs are nonrefundable.
Transcript. Panel 1, at the imports receiving dock, an importer holds up the Daily Trade Journal, headlined IEEPA TARIFFS STRUCK DOWN. He says: “Refunds open Monday. The duty is dead.” Panel 2, a Form 7501 entry summary on the counter. IEEPA is circled for an October 6 refund; Section 301 and Section 232 are circled still due. A hand points at the form: “Monday refunds the emergency. The other two statutes did not get the opinion.” Panel 3, Debit at his desk, red pencil in hand, mug reading “It depends.” He says: “Same container. Three hooks. Only one lost.”
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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 · carlos@lapresallc.com · (917) 558-6393.