Blog

On Heroes and CAPEs

By Chad Martin
Updated on April 20, 2026
shipping container ship

My credentials as an astrologist are as lacking as my qualifications as a professional dog food taster (real thing, look it up), but even I am capable of perceiving those moments when the stars seem to align in ways that seem bigger than chance. Today, April 20, is one of those days.

Today marks the 130th running of the Patriots' Day Boston Marathon, a sport near and dear to my heart and, in my opinion, one of the most unifying and joyful national celebrations the USA has to offer.

It is also the rollout of Customs and Border Protection's "CAPE" system for claiming refunds for the recently-overturned IEEPA tariffs. Although immense challenges remain for importers, this is an important milestone for the possibility of restoring checks and balances to US tax policy making.

And speaking of CAPE, the old saying goes that not all heroes wear one. While I admittedly lack insider knowledge on the wardrobe of my friend and colleague Joe Kristan, I suspect he usually goes cape-less and this fits the description. This is the last blog post I will publish under Joe's editorial leadership, as he moves on to conclude one of Eide Bailly's longest-tenured and highest-impact careers. Shocking as it may be to readers of this biweekly column, what you ultimately see often looks quite different from the stream-of-consciousness, semi-intelligible draft your faithful author tends to fire off every other Monday morning. I have Joe to thank for any polish or comprehension ultimately achieved, and his dry wit and relentlessly good nature have made the Blog one of the most enjoyable aspects of a job I love. Joe - you will be sorely missed by the entire Eide Bailly community and beyond, and I am incredibly grateful to count myself of one of the many who have directly benefited from your mentorship.

Editor's note: The cat is out of the bag, it seems. But I'm still here through April 30, Chad, and don't you forget it! And thank you for the kind words, for your unexcelled technical excellence, and for somehow making transfer pricing fun. 

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About the Author(s)

Chad Martin
Chad Martin
Principal/Transfer Pricing Services
Chad helps his clients navigate the complexities of today's global transfer pricing rules, regulations and opportunities. He helps companies structure and defend their intercompany transactions with an 'in-house' mindset.

Material discussed is meant to provide general information and it is not to be construed as specific investment, tax or legal advice. Keep in mind that current and historical facts may not be indicative of future results. This is meant for educational purposes only. Information presented should not be considered investment advice or a recommendation to take a particular course of action. Always consult with a financial professional regarding your personal situation before making any financial decisions.