ARTICLE | July 31, 2024
The Treasury recently released final regulations concerning prevailing wage and apprenticeship (PWA) requirements related to eligibility for energy credits and deductions under the so-called Inflation Reduction Act. The new rules - more than 300 pages in length - touch on three primary themes: scope, timing, and practice and procedure. The regulations will apply to qualifying facilities that commence construction or are placed in service after June 25, 2024. Qualified facilities who commenced construction prior to June 25 may apply the final regulations on an elective basis.
This article from RSM provides details and analysis of the final regulations, shedding light on the changes made from the proposed regulations. It delves into the specifics of when the PWA rules apply, when to start tracking PWA requirements, and further illumination on documentation requirements and penalty provisions. This article is an essential read for those seeking to understand the intricate details of the final regulations and their potential implications. To learn more about the prevailing wage and apprenticeship requirements, click the link below.
Read the full article here...