IRS Releases Notices Implementing the Tax Provisions Related to Prevailing Wage, Apprenticeship and Energy Efficiency from the Inflation Reduction Act
The Internal Revenue Service has released for public comment six long-awaited notices listed below on implementation of different tax benefits in the Inflation Reduction Act. These include one guidance document focused on the prevailing wage, apprenticeship and domestic content requirements to qualify for increased or bonus credit (or deduction) amounts for energy tax credits in the IRA, related to Section 179D and other parts of the tax code.
Notice 2022-51 requests comments on prevailing wage, apprenticeship, domestic content and energy communities’ requirements for section 179D and other tax credits in the IRA.