IL HB4031

Creates the Tax Consultant and Tax Preparer Licensure Act requiring the Department of Revenue to license tax consultants and tax preparers in Illinois.

Prohibits any person from preparing personal income tax returns for compensation or representing themselves as doing so unless licensed as a tax consultant; tax preparers must work under supervision of a licensed tax consultant.

Establishes qualifications for licensure including age 18+, high school diploma, 80+ hours of tax training, IRS preparer tax identification number, and passage of Department examination.

Requires tax consultants to maintain records of prepared returns for 4 years and mandates annual renewal of licenses with continuing education of at least 30 hours in income tax subjects.

Establishes grounds for license suspension or revocation including incompetence, dishonesty, fraud, criminal conviction involving dishonesty, failure to pay taxes, and violations of professional conduct code; requires clear written disclosure of refund anticipation loan fees and terms to taxpayers.