Tax comic · September 2026

Same Box, New Hook

Debits & Credits · Tariffs · IEEPA · Section 122 · Section 301

Debits & Credits comic strip: Same Box, New Hook. Transcript below.Open full size

Debits & Credits, September 23, 2026. Laughs are nonrefundable.

Transcript. Panel 1, a customs officer with a clipboard stands beside a crate of widgets tagged IEEPA (void), §122 (expired), and §301. Officer: “Same crate. New statute. Initial the change in legal theory.” Panel 2, an importer holds an IRS envelope marked “IEEPA Refund” and a second marked “§301 Due.” Importer: “They refunded February.” Debit: “July is due on entry.” Panel 3, Debit at his desk beside a newspaper headline, “Fed: 70% keep the cash.” Debit: “Seventy percent are keeping the refund as cash. The rest are waiting to see which section we use next week.”

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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.