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.
- 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.
- 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.
- Public Accounting Act Sunset Extension
Passed legislation to update and extend the sunset of the Illinois Public Accounting Act to January 1, 2029.
- 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.
- Optional Pass-Through Entity Tax Treatment of Retired Partner Distributions
Passed legislation to make a technical correction to exempt retired partner distributions.
- 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.
- CPA Exam Legislation
Passed legislation to require 120 hours to sit for the CPA exam and 150 hours for licensure.
- Pass-Through Entity Tax Deduction/SALT Cap Work Around
Advocated for retention of the pass-through entity tax deduction in the One Big Beautiful Bill Act and the extension of Illinois' optional pass-through entity tax beyond Jan. 1, 2026.
- 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.
- 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.
- Bill Monitoring
Monitor bills that are introduced or amended that could negatively impact the CPA profession.
- Legislation Tracking
Provide real-time tracking of tax and other legislation of interest to the CPA profession.