About this episodeSmall and mid-sized businesses that import goods may be eligible for tariff refunds totaling approximately $80…AI summary
Small and mid-sized businesses that import goods may be eligible for tariff refunds totaling approximately $80 billion, with average individual refunds ranging from $100,000 to $2 million. The process involves navigating three phases of claims based on liquidation status and legal windows, requiring the setup of a CBP ACE portal to access data and file claims.
Key takeaways 7
Total potential refunds amount to ~$80 billion, with only ~$86 billion paid out so far, primarily to large corporations like Walmart and Ford.
The refund process is divided into three phases: Phase 1 (easy, within 180-day window), Phase 2 (complex reconciliation, opened June 29), and Phase 3 (legal appeals for those past deadlines).
Average refund seen by the guest's firm is $1-2 million; a specific example cited is a toy manufacturer (Big Fun) receiving $6.4 billion (95% of claim).
Many businesses miss refunds because they don't have an ACE portal set up or don't know their liquidation dates; over 50% of eligible businesses lack this portal.
Refund buyouts are available where finance groups provide 70-75% of the claim value immediately on a non-recourse basis, with the remainder paid upon government disbursement.
Most CPAs are unaware of these specific tariff refund opportunities, creating a gap in advice for small business owners.
FedEx/UPS customers can still claim refunds if they paid tariffs through shipping invoices, even if they didn't file directly with customs.
Notable quotes 4AI-generated: wording and quote attribution may be wrong. Use the play link to verify.
“The average refund that we've seen is 1 to 2 million. They got 6.4 billion back and that's 95% of their claim.”
▶ 0:00Guest Trevor Hall highlighting the scale of potential refunds for businesses.
“Most CPAs don't know about it. There's no rules to what I can do with the money. There's zero at all.”
▶ 0:00Host Brad Lee emphasizing the lack of restrictions on how businesses can use the refunded funds.
“If you're not asking or if you're not creating your own portal to pull your data in to see, you don't know where your timeline is.”
▶ 9:48Guest explaining why small businesses miss deadlines and opportunities due to lack of direct access to customs data.
“We don't need to leave them extra. I don't like what the government does with the money when they get it. But I feel like if I can get it into the hands of people locally that they'll spend it here locally and that helps our economy.”
▶ 49:11Guest's philosophy on why businesses should claim these refunds.
Chapters & Sections (23)▼
0:00Small Business Tariff Refund Eligibilitychapter2
1:33Tariff Refund Eligibility and Process
4:50FedEx Tariff Refund Process
6:30Three Phases of Tariff Refund Claimschapter1
9:30Small Business Tariff Refund Challenges
11:49Small Business Tariff Refund Process and Referral Programchapter3
14:50Real Tariffs Referral Program Mechanics
16:39Tariff Refund Thresholds and Business Impact
18:23Self-Help vs Professional Tariff Refund Services
20:33Navigating Tariff Refunds and ACE Accountschapter1
23:22ACE Account Setup and Refund Complexity
25:12Tariff Refund Errors and Legal Claimschapter1
28:05Merchant Services Fee Savings
30:12Small Business Funding and Government Refundschapter2
32:30Overcoming CPA Rejections for Refunds
34:09Government Refund Fees and Interest
36:24Tariff Refunds and Affiliate Marketingchapter2
38:31Tariff Refund Eligibility and Found Money Project
40:07Finding CPAs and Tax Strategy Education
42:12ACE Portal Setup and Tariff Buyoutschapter3
44:08ACE Portal Setup and Rejection Risks
46:01ERC Buyout Options and Non-Recourse Benefits
48:08Leveraging Tariff Refunds for Business Growth
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