Tax comic · October 2026

Hook Switch

Debits & Credits · Tariffs · Customs · IEEPA · Section 122

Debits & Credits comic strip: Hook Switch. Transcript below.Open full size

Debits & Credits, October 16, 2026. Laughs are nonrefundable.

Transcript. Panel 1, an importer at his desk holds an IEEPA emergency tariff entry summary beside a stack of purchase orders and an Importers Caffeine Coalition mug. Importer: “Supreme Court killed the emergency duty!” Panel 2, the same entry summary now carries a green stamp: Section 122, temporary, 150 days max. Importer: “So it’s only temporary now?” Panel 3, Debit holds up a sheet listing Section 301 forced labor and Section 232 national security. Debit: “It depends. Check tomorrow’s Federal Register.”

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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.