Businesses that import goods or have paid tariffs in recent years should be aware of a recent development that may present a potential refund opportunity.
Following a recent Supreme Court decision that struck down certain tariffs imposed under International Emergency Economic Powers Act (IEEPA), U.S. Customs has opened a new refund claims process. For companies that paid these tariffs, this may create an opportunity to recover amounts already paid — and in some cases, the refunds could be meaningful.
The first phase of the refund portal opened April 20, so there is a limited window to evaluate eligibility and determine whether action is warranted. If your business imports goods or has paid tariffs in recent years, this may be worth a closer look.
Our team is monitoring developments and would be happy to discuss whether this opportunity may apply to your situation. If you have questions or would like to connect, please reach out to your Honkamp account manager.