Manufacturing companies potentially owed tariff refunds are being told by their accountants to slow down — because recording money that hasn’t arrived yet could create serious problems on the books.

“Unless it’s in your bank account,” companies should be careful about recording the refund, Thomas Alongi, partner at national accounting and advisory firm UHY, said in a June 25, 2026, interview. Alongi, who has spent more than 25 years working with automotive and manufacturing clients, said navigating IEEPA tariff refunds has become one of the most pressing issues he is fielding from CFOs in the manufacturing sector. The warning highlights a problem emerging across the industry: the legal case for refunds may be strong, but the accounting answer is far from settled.

The issue became urgent after the Supreme Court’s ruling struck down tariffs imposed under the International Emergency Economic Powers Act (IEEPA). The ruling left importers with the same question: can we put that refund on the books now, or do we wait for actual cash?

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