Sean wrote...
....
Just to clarify, I'm using the date as a notice of when a Report is
due to be returned. The bases is that its due on "the 1st Tuesday of
each month", but specifically its due by 12pm on the 1st Tuesday, so
if the user opened up the file at 2:00pm on the 1st Tuesday, he/she
should see the following months 1st Tuesday date. If the user opened
the file up at 10:00am on the 1st Tuesday, he/she should see the
current days date pop up

Then you could use a simpler formula. For the date/time in A3,

=INT(A3-WEEKDAY(A3-1.5,2)+7*MATCH(TRUE,DAY(A3-WEEKDAY(A3-1.5,2)
+7*{1;2;3;4;5}+0.5)8,0)+0.5)+0.5