(735 ILCS 5/13-214.2)
(from Ch. 110, par. 13-214.2)
(a) Actions based upon tort, contract or otherwise
against any person, partnership or corporation registered pursuant to the
Illinois Public Accounting Act, as amended, or any of its employees,
partners, members, officers or shareholders, for an act or omission in the
performance of professional services shall be commenced within 2 years from
the time the person bringing an action knew or should reasonably have known
of such act or omission.
(b) In no event shall such action be brought more than 5 years after the
date on which occurred the act or omission alleged in such action to have
been the cause of the injury to the person bringing such action against a
public accountant. Provided, however, that in the event that an income tax
assessment is made or criminal prosecution is brought against a person,
that person may bring an action against the public accountant who prepared
the tax return within two years from the date of the assessment or
conclusion of the prosecution.
(c) If a person entitled to bring the action is, at the time the cause
of action accrues, under the age of 18, or under a legal disability,
the period of limitations shall not begin to run until the disability
(d) This Section shall apply to all causes of action which accrue on or
after its effective date.
(Source: P.A. 85-655; 86-1329.)