Effective October 1, 2011 I changed my California Certified Public Accounting license from “Active” to “Inactive”. What does that mean to you?
It means I won’t be able to be your “Paid Preparer” on income tax returns. The IRS and California Franchise Tax Boards have become much more demanding of all of us over the past couple of years. I’m tired of the shackles they are binding to CPAs and the ever-increasing complexity of income tax regulations. I’m bowing out of the Paid Tax Preparer market for now. That’s basically it. Even though I was an Active CPA last year and entitled to perform certain functions that only Active CPAs with a Type A licenses can do, it has been years since I have done any of those functions – both in private and public accounting. There are steps I can take and time I can waste to bring it back to “Active” status but at this moment I do not see any reason to do so.
I have been a CPA continuously since 1992 and am still a CPA (at least until 2013 when I renew my license again) but there have been periods during those years that my license was either “Active” or “Inactive”. Effective this month, any CPA who renews his license as “Inactive” must state so if he uses “CPA” in conjunction with his name. So, while last January it was fine for me to be “Jeri L. Peterson, CPA” – even if my license was inactive – this year I am “Jeri L. Peterson, CPA (Inactive)”.
Audits of the financial statements and SOX compliance for Fortune 500 companies aren’t something I’ve wanted to do. That’s for large CPA firms to do, not me. Assisting companies – Fortune 500 or no – with auditor’s requests and testing is something I’m happy to do. But much more than that, helping out small organizations – businesses and not-for-profit – and individuals plan for the road ahead – helping them be flexible and accomplish goals – THAT’S what I want to do. I KNOW there is something I can help you with.
I can’t sign your tax return as a “PAID PREPARER” and I am now required by the California SBA to let you know that I am Jeri L. Peterson, CPA (Inactive) if I chose to include my “CPA” title with my name. I find that misleading because I am anything but inactive. I’ve changed my business name this year to simply:
JERI L. PETERSON