Tax comic · October 2026

Hook Swap, Part II

Debits & Credits · Tariffs · Customs · Section 301 · Court of International Trade

Debits & Credits comic strip: Hook Swap, Part II. Transcript below.Open full size

Debits & Credits, October 22, 2026. Laughs are nonrefundable.

Transcript. Panel 1, a junior associate holds a stack of Federal Register notices next to Debit and a client file. Junior: “IEEPA tossed. 122 expired. Now Section 301 on forced labor? Same rate as last week?” Panel 2, Debit marks a green customs entry form stamped “Duty.” Debit: “Character is still duty. Substance over form is for the other Code.” Panel 3, Debit with his “It depends” mug. Debit: “Until the next CIT opinion. Or the next statute. Or both.”

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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.