Each day, the Illinois CPA Society works to help create an environment that favors and supports the accounting profession and you, our members.

Here are 12 ways we’ve recently had your back.

Advocating for You

 

  1. CPA Licensure Pathways/ Enhanced Mobility
    Passed legislation unanimously in both Chambers to create two additional pathways to CPA licensure and provide for enhanced mobility practice privileges

  2. CPA License Renewal
    Served as a collective voice for the CPA profession with the Illinois Department of Financial and Professional Regulation and advocated for individual and firm license renewal extensions.

  3. Public Accounting Act Sunset Extension
    Passed legislation to update and extend the sunset of the Illinois Public Accounting Act to January 1, 2029.

  4. Attorney General Charity Audit Thresholds
    Advocated to increase the audit threshold to $500,000 for charitable organizations required to file with the Illinois Attorney General.

  5. Optional Pass-Through Entity Tax Treatment of Retired Partner Distributions
    Passed legislation to make a technical correction to exempt retired partner distributions.

  6. State Corporate Tax Return Due Date
    Advocated for the Illinois Department of Revenue to extend the state corporate tax due date from October 15 to November 15.

  7. CPA Exam Legislation
    Passed legislation to require 120 hours to sit for the CPA exam and 150 hours for licensure.

  8. Non-Compete Covenants
    Negotiated legislation to preserve the use of not-to-compete/non-solicitation covenants in employment agreements.

  9. Fighting a Tax on Professional Services
    Maintain a broad-based coalition of professional and trade organizations to oppose any legislative initiatives to impose a tax on professional services.

  10. Legislative/Regulatory Updates
    Provide relevant information to members through Daily Morning Reports when the legislature is in session, special alerts, Capitol Insight e-newsletter, and Insight magazine.

  11. Bill Monitoring
    Monitor bills that are introduced or amended that could negatively impact the CPA profession.

  12. Legislation Tracking
    Provide real-time tracking of tax and other legislation of interest to the CPA profession.

For more information, contact:
Marty Green
Senior Vice President and Legislative Counsel
Email l 217.789.7914