Treasury and the IRS issued detailed regulations on Tuesday, Aug. 29, regarding the new prevailing wage and registered apprenticeship requirements linked to companies claiming clean energy tax credits under the Inflation Reduction Act.
The IRS also released a related FAQ webpage and Publication 5855, which is an overview of the prevailing wage and registered apprenticeship requirements for clean energy projects.
The proposed rules provide employers some leeway on penalties if they correct failures in meeting the wage and registered apprenticeship requirements in a timely manner.
Treasury and the IRS will collect written public comments on the proposed rules through the end of October and will hold a public hearing on Tuesday, Nov. 21. Read more.