News & Analysis as of

Prevailing Wages Apprenticeships Recordkeeping Requirements

Vinson & Elkins LLP

The Very Timely PWA Requirements Finalized

Vinson & Elkins LLP on

On June 18, 2024, the Department of the Treasury (the “Treasury”) and the Internal Revenue Service (the “Service”) issued final regulations (T.D. 9998) (the “Final Regulations”) regarding compliance with the prevailing wage...more

Holland & Hart - Employers' Lawyers

IRS Issues Final Prevailing Wage and Apprenticeship Regulations

On June 25, 2024, the Internal Revenue Service and U.S. Department of Treasury published final Treasury Regulations (“Final Regulations”) in the Federal Register on the prevailing wage and registered apprenticeship...more

Jones Day

Proposed IRS Regulations on Tax Credits for Renewable-Energy Investments Include Wage and Apprenticeship Requirements

Jones Day on

In Short - The Background: The Inflation Reduction Act provides for robust tax incentives on qualifying renewable-energy construction projects. In order to claim the full amount of such tax credits on qualifying projects,...more

Foley Hoag LLP

Treasury and IRS Release Proposed Regulations on IRA’s Prevailing Wage and Apprenticeship Requirements

Foley Hoag LLP on

The U.S. Department of Treasury (Treasury) and the Internal Revenue Service (IRS) have issued proposed regulations interpreting the Inflation Reduction Act’s (IRA) prevailing wage and apprenticeship requirements (Labor...more

BakerHostetler

Analysis of IRS Proposed Regulations Addressing the Renewable Energy Credit Prevailing Wage and Apprenticeship Requirements

BakerHostetler on

As covered in our prior alerts, the Inflation Reduction Act modified and reinstated existing renewable energy credits, enacted new renewable energy credits, and included a mechanism for certain tax credits to increase by a...more

Pillsbury Winthrop Shaw Pittman LLP

Treasury Department and IRS Issue Proposed Regulations on the Prevailing Wage and Apprenticeship Requirements under the Inflation...

The proposed regulations adopt the Department of Labor’s published rates for prevailing wages for the relevant type of construction in the geographic location of the project. The proposed regulations provide additional...more

King & Spalding

IRS Proposed Regulations and DOL Guidance Clarify Certain Aspects of the Prevailing Wage and Apprenticeship Requirements

King & Spalding on

The U.S. Department of Treasury (“Treasury”) and IRS issued proposed regulations (“Proposed Regulations”) on August 29, 2023, regarding increased credit or deduction amounts available under the Inflation Reduction Act of 2022...more

Vinson & Elkins LLP

Treasury Issues Proposed Regulations for IRA Labor Requirements

Vinson & Elkins LLP on

On August 29, 2023, the Department of Treasury (the “Treasury”) and the Internal Revenue Service (the “IRS”) issued proposed regulations (the “Proposed Regulations”) providing proposed rules governing the prevailing wage and...more

BCLP

Industry update: PWA guidance

BCLP on

The Inflation Reduction Act (the “IRA”), which was signed into law in August of 2022, has been top of mind for members of the renewable energy industry. This is because, among other things, the IRA significantly restructured...more

Faegre Drinker Biddle & Reath LLP

Update to Guidance on Inflation Reduction Act of 2022 – Prevailing Wage and Apprenticeship Training Requirements – With Guidance...

On August 16, 2022, President Biden signed into law the Inflation Reduction Act of 2022 (the Act), which extends and expands existing tax credits and adds several new energy tax credits to encourage the production of clean...more

Holland & Knight LLP

60-Day Clock Is Ticking on Prevailing Wage, Apprenticeship Requirements

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President Joe Biden signed the Inflation Reduction Act (IRA) into law on Aug. 16, 2022. The massive legislative package revises policy on taxes, healthcare, agriculture and energy. In particular, the IRA modifies and expands...more

Fisher Phillips

Employers Must Meet Federal Prevailing Wage and Apprenticeship Requirements to Earn New Tax Credits and Deductions

Fisher Phillips on

Federal officials recently outlined prevailing wage and apprenticeship requirements that projects need to adopt if they want to take advantage of the enhanced tax credits and deductions created by the Inflation Reduction Act...more

Pillsbury Winthrop Shaw Pittman LLP

IRS Provides Highly Anticipated Wage and Apprentice Guidance for Applicable Tax Credits under the Inflation Reduction Act

Publication of Notice 2022-61 starts the 60-day clock until projects that initially commence construction must comply with the new requirements. On November 30, 2022, the Internal Revenue Service (IRS) published Notice...more

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