Illinois Residents
Governor Signs Legislation to Extend Registered CPA Option
Governor Quinn signed legislation supported by the
Illinois CPA Society today to extend the registered CPA option
from June 30, 2010 to July 1, 2012. The legislation
is effective immediately.
Background: ICPAS government relations staff worked with Representative Robert
Rita to introduce House Bill 6415 (now Public Act 096-0945) that overwhelmingly
passed both chambers of the General Assembly. This legislation will extend the
sunset of the registered CPA option to July 1, 2012 and will allow time to find
a more permanent solution to Illinois' dual licensing issues. With the
additional time allotted by this legislation, the ICPAS Board of Directors has
formed a Sunset Task Force to make recommendations to the board on the
continuance, revision or sunset of the registered CPA option.
Regulatory Requirements: A CPA in Illinois must be registered or licensed or
both if they want to hold themselves out to the public as a CPA. Illinois law
requires all CPAs who are performing licensed services to maintain a license;
all other individuals using the CPA designation must register with the Illinois
Department of Financial and Professional Regulation. This would include anyone
who uses the CPA designation on resumes, business cards or letterhead or in any
other manner.
Registered CPAs may use the designation "CPA" but may not perform licensed
services, cannot represent taxpayers before the IRS under provisions of Circular
230 and do not have a CPE requirement.
How Registration Works:
$90 for initial registration and $90 every three years thereafter to renew
registration.
Registration does not require continuing professional education (CPE) or
experience.
CPAs can be both a registered and licensed.
If you are not licensed or registered and continue to use the CPA designation,
you could be fined up to $5,000 per incident.
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For more information about how practitioners can become licensed or registered
with the Illinois Department of Financial and Professional Regulation read more
or read the F.A.Q.s about being a registered CPA. Contact ICPAS government
relations office at 800.572.9870 for more information or submit comments to
governmentrelations@icpas.org.
Become a registered CPA here.
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From May 2010