Tax comic · October 2026

Statutory Hook

Debits & Credits · Tariffs · Customs · IEEPA refunds · CAPE

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

Debits & Credits, October 17, 2026. Laughs are nonrefundable.

Transcript. Panel 1, an importer slumps over entry summaries stamped IEEPA, Section 122, and Section 301. Importer: “First IEEPA. Then Section 122. Now Section 301. Is it 232 tomorrow?” Panel 2, a CBP officer holds a file of new refund claims under a sign reading CAPE: $20B refunds processed. Officer: “The Supreme Court struck those down. The temporary one expired. These are the new ones. For now.” Panel 3, Debit, red pencil raised, holds his “It depends.” mug. Debit: “Which one? The unlawful, the expired, or the one still on the books?”

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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.