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ARTICLE · 09 JULY 2024

Treasury And IRS Release Final Regulations On Prevailing Wage And Apprenticeship Requirements

Buchanan Ingersoll & Rooney
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On June 18, 2024, the Treasury Department and the Internal Revenue Service (IRS) issued final regulations concerning the prevailing wage and apprenticeship (PWA) requirements.

United StatesEmployment and HR
Carl Staiger
Carl Staiger
Christian Antkowiak
Christian Antkowiak
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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 for clean energy initiatives. Interested parties should review the final regulations and work with legal counsel to ensure their compliance with the PWA requirements to obtain tax credits available for current and future projects.

Time is of the essence. The final regulations were published in the Federal Register on June 25, 2024 and become effective on August 26, 2024. Prior to issuing the final regulations, the Treasury Department and the IRS considered over 340 written comments in response to the proposed regulations. The final regulations affect (i) taxpayers intending to satisfy the PWA requirements in order to be eligible for increased energy tax credits or an increased deduction, as applicable, (ii) taxpayers intending

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