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 wage and apprenticeship requirements (the “Labor Requirements”) impacting a broad swath of clean energy tax credits included in the Inflation Reduction Act of 2022 (the “IRA”) (i.e., sections 45, 30C, 45, 45Q, 45V, 45Y, 45Z, 48, 48C, 48E, and 179D of the Internal Revenue Code of 1986, as amended (the “Code”)).
On November 30, 2022, the IRS and the Treasury Department published Notice 2022-61 (the Notice) in the Federal Register. The Notice provides guidance regarding the prevailing wage.
On November 30, 2022, the IRS and the Treasury Department published Notice 2022-61 (the Notice) in the Federal Register. The Notice provides guidance regarding the prevailing wage.
Inflation Reduction Act of 2022 IRA under IRS and Treasury Depart Notice 2022-61 for Apprenticeship Requirements, Prevailing Wage Requirements, Labor Requirements which a taxpayer must satisfy to be eligible for increased amounts of the following clean energy tax credits
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”).