Tariff Refunds After the Supreme Court Ruling: A Practical FAQ for Small Businesses
If your business imports products, parts, materials, or equipment, you have probably felt the impact of tariffs on your pricing, margins, and planning. A recent U.S. Supreme Court decision struck down certain tariffs imposed under the International Emergency Economic Powers Act, also known as IEEPA, and that has opened the door for many small businesses to seek refunds.
The challenge is that “tariff refund” can sound simple, but eligibility and next steps depend on how your imports were handled and which tariffs were applied. The U.S. Chamber of Commerce put together a helpful Tariff Refunds FAQ to guide small businesses through the basics, including who may qualify, what types of tariffs may be refundable, what to ask your customs broker, and what to watch out for as the process evolves.
Who might qualify
The U.S. Chamber notes that refunds may be available to U.S. importers of record who directly paid the tariffs, or the consignee who takes ownership once goods clear customs. If you did not directly pay the tariffs, you are likely not eligible.
Refunds discussed in the FAQ are tied specifically to tariffs applied under IEEPA. These can include tariffs commonly described as “fentanyl,” “trafficking,” “reciprocal,” or “baseline” tariffs, plus some other IEEPA-based tariffs applied to certain goods from Brazil and India.
The U.S. Chamber also emphasizes what is not included. Refunds are not available for Section 232, Section 301, Section 201, anti-dumping and countervailing duties, or most-favored nation tariffs.
What Central Illinois businesses can do right now
Even if you are unsure whether you qualify, there are a few practical steps that can help you get organized and reduce stress later.
1) Confirm whether you were the importer of record
Start with your own shipping and purchasing records. If you import through a distributor, or if your supplier handled importation, you may not be the party that directly paid the tariffs.
Start with your own shipping and purchasing records. If you import through a distributor, or if your supplier handled importation, you may not be the party that directly paid the tariffs.
2) Talk to your customs broker early
Customs brokers will be the front line for businesses navigating tariff refunds. The U.S. Chamber recommends asking your broker:
Customs brokers will be the front line for businesses navigating tariff refunds. The U.S. Chamber recommends asking your broker:
What tariffs did I pay that were assessed under IEEPA?
What records do I need to substantiate a refund?
What specific records need to be assembled to calculate refund amounts, such as entry summaries, ACE reports, invoices, classifications, and country-of-origin support?
3) Get your documentation in one place
If your business imports anything from components and equipment to finished goods, organizing your import documentation now is a smart move. Think of it like preparing for an audit. You want a clean, complete paper trail.
If your business imports anything from components and equipment to finished goods, organizing your import documentation now is a smart move. Think of it like preparing for an audit. You want a clean, complete paper trail.
4) Watch for scams
Periods of uncertainty create opportunities for fraud. The U.S. Chamber warns that scammers may try to take advantage of confusion around refunds. Work only with established, legitimate customs brokers and advisors you trust.
Periods of uncertainty create opportunities for fraud. The U.S. Chamber warns that scammers may try to take advantage of confusion around refunds. Work only with established, legitimate customs brokers and advisors you trust.
5) Plan to loop in your CPA or attorney
How refunds should be treated for federal income tax purposes can be nuanced, and it depends on how the original expense was treated and how your business is structured. The Peoria Area Chamber does not provide legal or tax advice and encourages businesses to consult qualified professionals.
How refunds should be treated for federal income tax purposes can be nuanced, and it depends on how the original expense was treated and how your business is structured. The Peoria Area Chamber does not provide legal or tax advice and encourages businesses to consult qualified professionals.
What we know about the refund process so far
At the time the U.S. Chamber published its FAQ on February 20, 2026, the refund process was still evolving and expected to become clearer through court and administrative updates. As this develops, we will continue sharing credible updates and practical resources that help Central Illinois employers stay informed, protect their operations, and plan with more certainty.
Read the full U.S. Chamber FAQ
Use the U.S. Chamber’s guide as your primary reference, and share it with your operations, purchasing, finance, and logistics teams: https://www.uschamber.com/economy/tariff-refunds-faq-what-small-businesses-need-to-know-after-supreme-courts-ruling