• Public Accounting Act
• Public Accounting Act (Professional Conduct)
• Public Accounting Rules

Legislative Synopsis

Key Legislative Dates: 
2013 Senate Calendar. 2013 House Calendar. 

State Budget Presentation--Senate President John Cullerton's State budget presentation to the City Club of Chicago.

The Illinois CPA Society maintains a presence in Springfield to monitor legislation and advocate on behalf of the CPA profession in Illinois. 

State Issues

Updated May 16, 2013
ILLINOIS GENERAL ASSEMBLY PASSES PUBLIC ACCOUNTING ACT--Both the Illinois House and Senate unanimously passed House Bill 2726. The measure now goes to the Governor for his signature with an immediate effective date. See the State Legislative Update sent to all ICPAS members.

Updated February 21, 2013
EXPANDED CPE FOR 2015 RENEWAL--Adopted rules.

Updated September 7, 2012
GOVERNOR SIGNS INDEPENDENT TAX TRIBUNAL LEGISLATION--HB 5192 (Rep. Michael Zalewski, D-21, Riverside), provides that on and after July 1, 2013, an Independent Tax Tribunal Board shall assume, exercise, and administer all rights, powers, duties, and responsibilities pertaining to protests of notices of tax liability or deficiencies for all taxes administered by the IDOR. Status: Public Act 97-1129. See briefing. 

Federal Issues

AICPA ADVOCATE--AICPA newsletter providing up-to-date information on federal issues of interest to the CPA profession.

Updated May 9, 2013
ICPAS SUPPORTS PASSAGE OF TAX REFORM DUE DATE SIMPLIFICATION ACT OF 2013--The Illinois CPA Society joins other state CPA societies in urging lawmakers to cosponsor H.R. 901 (and companion S. 420) Tax Reform Due Date Simplification Act of 2013. The proposal creates a logical set of due dates focused on allowing a more tmely flow of information from pass-through entities to their owners. It also would promote the early filing of more business and personal returns and relieve some of the workload compressoin surrounding the September 15 business return deadline. AICPA, ICPAS and other state socities have pushed for this legislation since 2008. See sample ICPAS Congressional letter.

Updated May 10, 2013
ICPAS ASKS ILLINOIS MEMBERS OF CONGRESS TO COSPONSOR MOBILE WORKFORCE STATE INCOME TAX SIMPLIFICATION LEGISLATION--The Illinois CPA Society has urged members of the Illinois Congressional Delegation to cosponsor H.R. 1129 Mobile Workforce State Income Tax Simplification Legislation. ICPAS and the AICPA are a part of a large coalition of 495 national businesses and groups (Alcoa, Barclays, Caterpillar, GE, GM, etc.) that supports this bill. The proposal would create a uniform national standard and limit state or local taxation of the compensation of any employee who performs duties in more than one state or locality to the state or locality of the employee's residence and the state or locality in which the employee is physically present performing duties for more than 30 days. See sample ICPAS Congressional letter.

Updated January 25, 2013
FEDERAL COURT ENJOINS IRS TAX PREPARER REGISTRATION REQUIREMENTS--As of Friday, Janutary 18, 2013, the United States District Court for the District of Columbia has enjoined the Internal Revenue Service from enforcing the regulatory requirements for registered tax return preparers. Tax return preparers covered by this program are not currently required to register with the IRS, to complete competency testing or secure continuing education. The ruling does not affect the regulatory practice requirements for CPAs, attorneys, enrolled agents or enrolled actuaries. The Internal Revenue Service and Department of Justice have petitioned the court for reconsideratoin of liting the injunction. Please continue to check the IRS website for additional guidance.

Updated July 2, 2012
STATE SOCIETIES/AICPA SHED LIGHT ON GOVERNMENT ACCOUNTING--State Societies and the AICPA are working with members of Congress and the general public in providing financial literacy tools in understanding the meaning behind complicated financial statements of the U.S. government. "What's at Stake" video explains the financial statements in layman terms. Total Tax Insights® calculator, lets taxpayers calculate what he or she is providing to fund the government. Earlier this Spring, ICPAS members of the AICPA Council visited with Congressman Peter Roskam and other members of the Illinois Congressional Delegation to discuss the Federal Budget and use of these resources.

Updated September 7, 2012

Regulatory Issues

PEER REVIEW--Sole practitioners or firms who perform audits, renews or examinations of prospective financial statements must complete a peer review as a requirement for licensure renewal. To learn more visit the ICPAS Peer Review page.

Government Relations Office

LEGISLATIVE CONTACT PROGRAM--Call 800.572.9870 or send an email to Jill Loeser to volunteer to be a legislative liaison to your legislators. Read more about the program.

MOBILITY UPDATE--Public Act 95-0386 became effective on January 1, 2008. The original legislation, Senate Bill 745, was an ICPAS initiative to bring mobility to Illinois. The Government Relations staff has been working with the Illinois Department of Financial and Professional Regulation on mobility implementation and has developed informational questions and answers to assist practitioners in resolving mobility issues. Mobility and/or licensure questions may be directed to the Government Relations office at 217.789.7914 or 800.572.9870 or email Jill Loeser. See National Association of State Boards of Accountancy and AICPA mobility site. See State Substantial Equivalency.

The staff in the ICPAS Springfield office strives to keep you informed of all legislation and regulations that impact the accounting profession in Illinois. Contact: