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ARTICLE · 03 JANUARY 2025

IRS, Treasury Release Prevailing Wage, Apprenticeship Final Regulations

MGO CPA LLP
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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...

United StatesTax
Gabe Rubio
Gabe Rubio
Jesse Tsai
Jesse Tsai
Leah Turner
Leah Turner
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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 the Inflation Reduction Act of 2022.
  • Projects may be exempt from PWA requirements if they meet certain requirements, like the Beginning of Construction (BOC) or One Megawatt exceptions, with transition rules to make sure the work performed before January 29, 2023, remains unaffected.
  • You as the taxpayer bear the responsibility for making sure you're compliant with PWA requirements, including record-keeping.

The IRS and the Treasury Department on June 18 released final regulations concerning the prevailing wage and apprenticeship (PWA) requirements related to increased credit or deduction amounts for some clean energy incentives introduced by the Inflation Reduction Act of 2022 (IRA).

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