It's honestly true. Engadget made some phone calls after receiving this image from a tipster saying that TJ Maxx was selling 16GB WiFi iPads for just $399, a full $100 less than the regular retail price. Even John Gruber is befuddled:

I don’t understand how this is possible — that’s $100 less than every other retailer. But my friend Paul Kafasis confirms that he saw them at this price from his local TJ Maxx.

So yes, the news is pretty weird. I have a funny feeling this is not the last we'll be hearing about this lower iPad price at TJ Maxx. And enough from me, I'll let all you early adopters go vent in a corner about how you could have saved $100. For the rest of you, go take advantage!