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Prevailing Wages Construction Project Tax Credits

Holland & Knight LLP

A Look at IRA Prevailing Wage and Apprenticeship Requirements Final Regulations Highlights

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The U.S. Department of the Treasury and IRS on June 25, 2024, issued final regulations regarding increased credit or deduction amounts available for taxpayers satisfying prevailing wage and registered apprenticeship...more

Holland & Knight LLP

Treasury Department, IRS Issue Final IRA Prevailing Wage and Apprenticeship Regulations

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The U.S. Department of the Treasury and IRS on June 18, 2024, issued final regulations regarding the prevailing wage and apprenticeship (PWA) requirements. If the construction of a facility begins on or after Jan. 29, 2023,...more

Amundsen Davis LLC

Tax Incentives for Green Energy Projects Come With a Lot of Strings Attached

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On August 29, 2023, Clock on Grassthe U.S. Department of the Treasury and the Internal Revenue Service (IRS) released more guidance and proposed rules on key provisions in the Inflation Reduction Act (IRA) that requires...more

Seyfarth Shaw LLP

How to Comply with Prevailing Wage and Apprenticeship Requirements Under the IRA

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Under the Inflation Reduction Act, employers claiming the available tax credits must pay Davis-Bacon prevailing wages, and meet certain apprenticeship requirements, to claim enhanced tax credits. As eligible projects take...more

McGuireWoods LLP

IRS Proposes Prevailing Wage and Apprenticeship Regulations

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On Aug. 29, 2023, the U.S. Department of the Treasury and the IRS released comprehensive proposed regulations adding clarity to the prevailing wage and apprenticeship (PWA) prerequisites associated with eligibility for...more

Porter Hedges LLP

Recent Construction News under the Inflation Reduction Act

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The Inflation Reduction Act of 2022 (“IRA”) offered several incentives for the construction industry, including an update of the deduction for energy efficient property installed at commercial buildings under Section 179D of...more

McDermott Will & Emery

Energy Tax Credits with a String Attached

The Inflation Reduction Act of 2022 (IRA) grants tax credits to clean energy and infrastructure projects. But there is a string attached: to receive the tax credits, workers doing the construction, as well as those doing any...more

Sheppard Mullin Richter & Hampton LLP

Inflation Reduction Act: Prevailing Wage and Apprenticeship Requirement FAQs and Key Takeaways from the Initial Guidance from the...

As previously discussed in our blog Inflation Reduction Act: Wage and Apprenticeship Requirements, the Inflation Reduction Act (the “IRA”) restructured the tax credit system associated with qualified clean energy projects...more

Fisher Phillips

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

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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

Stoel Rives LLP

Treasury Corrects Beginning of Construction Deadline for Prevailing Wage and Apprenticeship Requirements

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The Department of the Treasury yesterday published a correction to Notice 2022-61 (the Notice), which contains guidance related to the prevailing wage and apprenticeship requirements applicable to the production tax credit...more

Brownstein Hyatt Farber Schreck

Treasury, IRS Release Guidance on Wage and Apprenticeship Requirements, Commenced Construction Standard

On Nov. 29, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) published Notice 2022-61, Prevailing Wage and Apprenticeship Initial Guidance under Section 45(b)(6)(B)(ii) and Other Substantially Similar...more

Morgan Lewis

IRS Publishes Critical Prevailing Wage and Apprenticeship Requirement Guidance for IRA Tax Credits

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The Internal Revenue Service (IRS) published Notice 2022-61 (the Notice) in the November 30 Federal Register to provide guidance on the key prevailing wage and apprenticeship labor standards (W&A Requirements) generally...more

Littler

Treasury Department Issues Guidance on the Inflation Reduction Act’s Prevailing Wage and Apprenticeship Requirements

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On November 30, 2022, the U.S. Treasury Department published in the Federal Register its guidance on the Inflation Reduction Act’s (IRA) new prevailing wage and apprenticeship requirements. Taxpayers seeking to qualify for...more

Vinson & Elkins LLP

Treasury Issues Initial IRA Labor Guidance

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In a surprising release, on November 29, 2022, the Department of Treasury (the “Treasury”) and the Internal Revenue Service (the “Service”) issued Notice 2022-61 (the “Notice”) providing initial guidance on the prevailing...more

Littler

New Federal Tax Credits Require Compliance with New Prevailing Wage and Apprenticeship Mandates on Clean Energy Construction

Littler on

On August 16, 2022, President Biden signed into law the Inflation Reduction Act (IRA) of 2022. Among many other provisions, the IRA contains a new federal 30% tax credit for private construction, alteration or repair of...more

Cole Schotz

New York Significantly Expands Application of Prevailing Wage Requirements

Cole Schotz on

On January 1, 2022, an expansion of prevailing wage law in New York will become effective. The new law will significantly increase the universe of construction projects subject to prevailing wage requirements...more

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