Tax comic · November 2026

The Hook of the Week

Debits & Credits · Tariffs · Customs · Section 301 · Forced labor

Debits & Credits comic strip: The Hook of the Week. Transcript below.Open full size

Debits & Credits, November 1, 2026. Laughs are nonrefundable.

Transcript. Panel 1, a frazzled importer holds a shipping invoice stamped “duties apply.” Importer: “IEEPA struck down. Section 122 expired July 24. Now it’s Section 301 forced labor on 60 countries?” Panel 2, file folders for IEEPA, §122, §301, §232, and §338 beside a Federal Register determination under Section 301 on forced labor in 60 countries and an “effective date” stamp. Voice: “And Section 338 on Canada just flipped Friday. Metals still under 232.” Panel 3, Debit at his desk with his mug. Debit: “Classification is the new character of income. Check the Register again tomorrow.”

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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.