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Treasury and IRS Release Unclear Guidance on IRA Tax Credits, Davis-Bacon and Apprenticeship Requirements

by | Nov 30, 2022 | Industry | 0 comments

On Nov. 30, the U.S. Treasury Department and Internal Revenue Service released guidance regarding tax credits for private clean energy projects funded by the Inflation Reduction Act conditioned on compliance with prevailing wage and government-registered apprenticeship requirements. Treasury and the IRS also released FAQs to provide additional information on the prevailing wage and apprenticeship requirements.

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On Aug. 14, the Office of Management and Budget announced final guidance to revise OMB’s Guidance for Grants and Agreements. This guidance defines the rules for federal agencies as they distribute funding through grant programs and other financial assistance. The...

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