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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

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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

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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

Cozen O'Connor

A Cocktail of Labor Policy, Energy Policy & Tax Policy: Prevailing Wage and Apprenticeship Rules

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The Inflation Reduction Act (the IRA) awards renewable energy tax credits1 for creating (or investing in) property that produces or generates renewable energy and clean energy fuels. Those credits are enhanced if the...more

Vinson & Elkins LLP

The Very Timely PWA Requirements Finalized

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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

Mayer Brown

Final Regulations Issued on Prevailing Wage and Apprenticeship Requirements under the Inflation Reduction Act

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On June 18, 2024, the US Internal Revenue Service (“IRS”) and Department of the Treasury (“Treasury”) issued final regulations (“Final Regulations”) establishing rules for taxpayers intending to satisfy the prevailing wage...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

K&L Gates LLP

Highlights of Section 48 Investment Tax Credit Proposed Regulations

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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

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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

Section 48 Proposed Regulations Detail Treatment of Qualified Biogas Property

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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

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

Burr & Forman

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

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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

BakerHostetler

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

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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

Orrick, Herrington & Sutcliffe LLP

Prevailing Wage and Apprenticeship Requirements: Treasury Department and IRS Propose Regulations for Clean Energy Projects Under...

The Department of the Treasury and Internal Revenue Service (IRS) published proposed regulations (the “Proposed Regulations”) providing further guidance on the prevailing wage and apprenticeship requirements for clean energy...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

Paul Hastings LLP

Treasury Issues Long-Awaited Wage and Apprenticeship Regulations for Energy Tax Credits

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The Inflation Reduction Act of 2022 introduced significant changes to the renewable energy tax credit landscape. One of the most notable of these changes, in addition to the broader goals of combating climate change and...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

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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

Stoel Rives LLP

Treasury Issues Proposed Regulations Regarding Prevailing Wage and Apprenticeship

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The U.S. Department of the Treasury (Treasury) today released a notice of proposed rulemaking (Proposed Regulations) related to the prevailing wage and apprenticeship (PWA) requirements for increased tax credits established...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

Holland & Knight LLP

Treasury, IRS Issue Proposed Regulations on IRA Prevailing Wage and Apprenticeship Requirements

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Ten months after the release of initial guidance, the U.S. Department of the Treasury and IRS on Aug. 29, 2023, issued proposed regulations regarding increased credit or deduction amounts available for taxpayers satisfying...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

Procopio, Cory, Hargreaves & Savitch LLP

Seeking Increased Renewable and Clean Energy Federal Tax Credits? You Must Act Soon

Those seeking to obtain increased federal tax credits for their renewable and/or clean energy projects under the Inflation Reduction Act (“Act”) have until late January 2023 to take the steps necessary for compliance. The Act...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

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