News & Analysis as of

Tax Credits Apprenticeships Proposed Regulation

Holland & Knight LLP

Treasury Department, IRS Release Section 30C Proposed Regulations

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The U.S. Department of the Treasury and IRS on Sept. 19, 2024, released proposed regulations under Section 30C of the Internal Revenue Code providing important clarity on the changes made by the Inflation Reduction Act (IRA)....more

Holland & Knight LLP

Treasury, IRS Release Proposed Regulations Under Section 30C

Holland & Knight LLP on

The U.S. Department of the Treasury and IRS on Sept. 18, 2024, released proposed regulations under Section 30C of the Internal Revenue Code regarding the Alternative Fuel Vehicle Refueling Property Credit. The proposed...more

Troutman Pepper

IRS Issues Final Regulations on Prevailing Wages and Registered Apprenticeship Requirements

Troutman Pepper on

On June 18, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) released final regulations (Final Regulations) on the prevailing wage and apprenticeship requirements under Section 45(b)(7) (Prevailing...more

Sheppard Mullin Richter & Hampton LLP

Claiming Inflation Reduction Act Tax Credits and Deductions on Your 2024 Return? Make Sure You Complied with the Prevailing Wage...

Tax season is here. As a result, many companies may be seeking to claim the increased tax credits and deductions available under the Inflation Reduction Act (the “IRA”)...more

K&L Gates LLP

Highlights of Section 48 Investment Tax Credit Proposed Regulations

K&L Gates LLP on

On 17 November 2023, the US Department of the Treasury (Treasury Department) and the Internal Revenue Service (IRS) issued proposed regulations (Proposed Regulations) updating rules for the investment tax credit (ITC) under...more

King & Spalding

IRS and Treasury Issue Section 48 Investment Tax Credit Proposed Regulations

King & Spalding on

Section 48 of the Internal Revenue Code of 1986, as amended (the “Code”) provides for an investment tax credit (“ITC”) for certain energy property. The Inflation Reduction Act of 2022 (the “IRA”) amended Section 48 in several...more

Holland & Knight LLP

Breaking Down the Section 48 Investment Tax Credit Proposed Regulations

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The U.S. Department of the Treasury and IRS on Nov. 17, 2023, released long-awaited proposed regulations (Proposed Regulations) regarding the investment tax credit (ITC) under Section 48 of the Internal Revenue Code. Section...more

Holland & Knight LLP

Section 48 Proposed Regulations Detail Treatment of Qualified Biogas Property

Holland & Knight LLP on

The U.S. Department of the Treasury on Nov. 17, 2023, issued proposed regulations (Proposed Regulations) regarding the investment tax credit (ITC) under Section 48 of the Internal Revenue Code (Code) that, following passage...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

Burr & Forman

Treasury and IRS Issue Proposed Regulations on Prevailing Wage and Apprenticeship Requirements for Inflation Reduction Act’s...

Burr & Forman on

The Inflation Reduction Act of 2022 (IRA) provides increased tax credit or deduction amounts, in many instances a five-times-multiplier bonus, for taxpayers meeting prevailing wage and apprenticeship requirements for certain...more

Eversheds Sutherland (US) LLP

Key proposed regulations issued regarding prevailing wage and registered apprenticeship requirements

On August 29, 2023, the Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued proposed regulations (Proposed Regulations) on the clean energy prevailing wage and apprenticeship (PWA) requirements...more

Holland & Knight LLP

Highlights of the Proposed Regulations on IRA Prevailing Wage and Apprenticeship Requirements

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The U.S. Department of the Treasury and IRS on Aug. 29, 2023, announced proposed regulations regarding increased credit or deduction amounts for which taxpayers can qualify by meeting prevailing wage and registered...more

Wilson Sonsini Goodrich & Rosati

Treasury and IRS Release Proposed Regulations Regarding the Prevailing Wage and Apprenticeship Requirements

On August 29, 2023, the Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) released a notice of proposed rulemaking and accompanying frequently asked questions (Proposed Regulations) regarding the...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

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