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Key Takeaways The IRS and Treasury Department have finalized regulations on prevailing wage and apprenticeship (PWA) requirements, aiming to streamline and clarify eligibility for increased clean energy incentives introduced under [...]

In long-anticipated guidance, the Internal Revenue Service (IRS) introduced final regulations that clarify prevailing wage and apprenticeship requirements for taxpayers seeking the full value of energy production and investment tax [...]

Introduction On June 18, 2024, the Treasury Department and the Internal Revenue Service (IRS) issued final regulations concerning the prevailing wage and apprenticeship (PWA) requirements. These requirements have significant implications [...]

In Short The Background: The Inflation Reduction Act ('IRA') created or enhanced various tax credits for qualifying renewable energy projects. However, a taxpayer loses 80% of otherwise-available IRA credits unless [...]

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 [...]

Seyfarth Synopsis: This alert summarizes the IRS's recent notice of proposed rulemaking on complying with prevailing wage and apprenticeship requirements under the Inflation Reduction Act and explains key provisions including [...]

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. [...]

Highlights The Inflation Reduction Act (IRA) significantly changes the tax code to incentivize companies to invest in energy security, reduce carbon emissions and increase energy innovation. To maximize the value [...]

On November 30, 2022, the Internal Revenue Service (the 'IRS') released Notice 2022-61 with initial guidance ('Guidance') on the prevailing wage and apprenticeship requirements and beginning of construction standard under [...]

On November 30, 2022, the Internal Revenue Service (the 'IRS') and the Department of the Treasury ('Treasury') published Notice 2022-61, Prevailing Wage and Apprenticeship Initial Guidance under Section 45(b)(6)(B)(ii) and [...]

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.1 Taxpayers seeking to [...]

On November 30, 2022, the Department of the Treasury and the Internal Revenue Service published Notice 2022-61 (the 'Guidance') describing how to satisfy certain prevailing wage and apprenticeship requirements (the [...]

The US Department of the Treasury just released its guidance on the labor requirements that must be fulfilled in order to maintain the credit for the full amount for clean [...]

The Internal Revenue Service (IRS) released its eagerly-anticipated guidance (the PWA Notice) regarding the prevailing wage and apprenticeship requirements under the Inflation Reduction Act (IRA). The publication of the PWA [...]

President Joe Biden signed into law the Inflation Reduction Act of 2022 ('HR 5376') (the 'IRA' or the 'Act'), on August 16, 2022. There are numerous tax credits in the [...]

Many states have enacted procurement rules and regulations attempting to give local contractors and union members a leg up in competition for construction work by imposing various forms of residency [...]