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The case of when it Raynes, it pours


Charles Selcer, CPA, MBA | November 2018 Footnote

Rayne Enspain retired from his public accounting firm in 2016, and he properly changed his CPA license with his state licensing authority to inactive. Nowadays, he mostly plays golf, gin rummy or other sedentary games. The leisurely life has been deleterious to his ability to execute tasks on a timely basis. Case in point, he failed to file his 2017 individual income tax by the extended due date. No problem, right, because he didn't owe any money?

Q.  Can Rayne be charged with an ethics violation?

A. Yes. Though he's not involved in public practice or in business, Part 3 of the Code of Professional Conduct applies to Rayne. He still is a CPA -- just an inactive one. Section 3.400.030 considers not filing your tax return on time an act discreditable to the profession.