News & Analysis as of

U.S. Treasury Wage and Hour

Troutman Pepper

IRS Issues Final Regulations on Prevailing Wages and Registered Apprenticeship Requirements

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On June 18, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) released final regulations (Final Regulations) on the prevailing wage and apprenticeship requirements under Section 45(b)(7) (Prevailing...more

IR Global

Pound stumbles as UK wage growth cools

IR Global on

The pound ticked lower on Thursday as the UK’s latest jobs report revived the potential of a Bank of England (BoE) interest rate cut next month. Sterling remains on the back foot so far this morning, with GBP/EUR subdued...more

Mayer Brown

Final Regulations Issued on Prevailing Wage and Apprenticeship Requirements under the Inflation Reduction Act

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On June 18, 2024, the US Internal Revenue Service (“IRS”) and Department of the Treasury (“Treasury”) issued final regulations (“Final Regulations”) establishing rules for taxpayers intending to satisfy the prevailing wage...more

Bradley Arant Boult Cummings LLP

Inflation Reduction Act Prevailing Wage and Apprenticeship Compliance: Treasury and IRS Issue Final Rule

On June 18, 2024, Treasury and the IRS released the final rule for compliance with the prevailing wage and apprenticeship requirements (PWA requirements) pursuant to the Inflation Reduction Act of 2022 (IRA). This final rule...more

Burr & Forman

Treasury and IRS Issue Proposed Regulations on Prevailing Wage and Apprenticeship Requirements for Inflation Reduction Act’s...

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The Inflation Reduction Act of 2022 (IRA) provides increased tax credit or deduction amounts, in many instances a five-times-multiplier bonus, for taxpayers meeting prevailing wage and apprenticeship requirements for certain...more

A&O Shearman

Navigating Treasury's proposed regulations on prevailing wage and apprenticeship for clean energy projects

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The Treasury Department (“Treasury”) and the Internal Revenue Service (the “IRS”) issued proposed regulations on August 29, 2023 for prevailing wage and apprenticeship (“PWA”) requirements applicable to clean energy projects...more

King & Spalding

IRS Proposed Regulations and DOL Guidance Clarify Certain Aspects of the Prevailing Wage and Apprenticeship Requirements

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The U.S. Department of Treasury (“Treasury”) and IRS issued proposed regulations (“Proposed Regulations”) on August 29, 2023, regarding increased credit or deduction amounts available under the Inflation Reduction Act of 2022...more

Bradley Arant Boult Cummings LLP

Treasury and IRS propose renewable energy prevailing wage and apprenticeship requirements

Payment of a prevailing wage to workers and employment of apprentices are key requirements for renewable energy developers to obtain the various tax incentives for their projects provided by the Inflation Reduction Act of...more

Husch Blackwell LLP

DOL Attempts to Expand Prevailing Wage Authority to All “Development Statutes”

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Developers of renewable energy projects generally haven’t concerned themselves with the Davis-Bacon Act, the Great Depression-era federal law that mandates the paying of prevailing wages to laborers on public works projects;...more

Littler

Treasury Department’s Greenbook Discusses Tax Treatment of On-Demand Pay

Littler on

The U.S. Department of the Treasury has released a document to explain the revenue proposals included in President Biden’s FY 2023 proposed Budget.  For the second consecutive year, the General Explanations of the...more

DirectEmployers Association

OFCCP Week In Review - January 2023

Wednesday, November 30, 2022: U.S. IRS & Treasury Department Published Notice on Prevailing Wage & Apprenticeship Requirements for Enhanced Tax Benefits Under Inflation Reduction Act - U.S. DOL Wage & Hour Division Seeking...more

Sheppard Mullin Richter & Hampton LLP

Inflation Reduction Act: Prevailing Wage and Apprenticeship Requirement FAQs and Key Takeaways from the Initial Guidance from the...

As previously discussed in our blog Inflation Reduction Act: Wage and Apprenticeship Requirements, the Inflation Reduction Act (the “IRA”) restructured the tax credit system associated with qualified clean energy projects...more

Holland & Knight LLP

60-Day Clock Is Ticking on Prevailing Wage, Apprenticeship Requirements

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President Joe Biden signed the Inflation Reduction Act (IRA) into law on Aug. 16, 2022. The massive legislative package revises policy on taxes, healthcare, agriculture and energy. In particular, the IRA modifies and expands...more

Bradley Arant Boult Cummings LLP

The clock is ticking on the IRA’s prevailing wage and apprenticeship requirements

Renewable energy developers and contractors have been anticipating the Treasury Department and IRS’s initial guidance on what is required to satisfy the prevailing wage and apprentice requirements under the Inflation...more

Orrick, Herrington & Sutcliffe LLP

IRA Update: What to Know About the New Guidance on Prevailing Wage and Apprenticeship Requirements

On November 30, 2022, the Department of the Treasury (“Treasury”) and the Internal Revenue Service (the “IRS”) published initial guidance clarifying certain questions surrounding the new prevailing wage and apprenticeship...more

ArentFox Schiff

“Help Me Get My Feet Back on the Ground”: IRS and Treasury Issue Initial Guidance on Prevailing Wage and Apprenticeship...

ArentFox Schiff on

On November 29, 2022, the Internal Revenue Service (IRS) and the Treasury issued a Notice of Initial Guidance (the Notice), which provides the first round of guidance with respect to the prevailing wage requirements and...more

Littler

Treasury Department Issues Guidance on the Inflation Reduction Act’s Prevailing Wage and Apprenticeship Requirements

Littler on

On November 30, 2022, the U.S. Treasury Department published in the Federal Register its guidance on the Inflation Reduction Act’s (IRA) new prevailing wage and apprenticeship requirements. Taxpayers seeking to qualify for...more

McDermott Will & Emery

IRS Issues Critical Wage and Apprenticeship Guidance under Inflation Reduction Act of 2022

McDermott Will & Emery on

The US Department of the Treasury just released its guidance on the labor requirements that must be fulfilled in order to maintain the credit for the full amount for clean energy and infrastructure projects under the...more

Littler

New Federal Tax Credits Require Compliance with New Prevailing Wage and Apprenticeship Mandates on Clean Energy Construction

Littler on

On August 16, 2022, President Biden signed into law the Inflation Reduction Act (IRA) of 2022. Among many other provisions, the IRA contains a new federal 30% tax credit for private construction, alteration or repair of...more

DirectEmployers Association

OFCCP Week In Review: August 2022

The DE OFCCP Week in Review (WIR) is a simple, fast and direct summary of relevant happenings in the OFCCP regulatory environment, authored by experts John C. Fox, Candee Chambers and Cynthia L. Hackerott. In today’s edition,...more

Sheppard Mullin Richter & Hampton LLP

Treasury Department Proposes Non-Loan Status for Earned Wage Access

In March, U.S. Department of Treasury issued its annual General Explanations of the Administration’s Revenue Proposals, commonly known as the “Green Book.”  Among other revenue proposals, the Treasury addressed the treatment...more

PilieroMazza PLLC

Weekly Update for Government Contractors and Commercial Businesses – July 2021 #2

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LABOR & EMPLOYMENT - DOL Announces Proposed Rulemaking to Increase Wages for Workers on Government Contracts - The Department of Labor (DOL) announced a Notice of Proposed Rulemaking to establish standards and...more

PilieroMazza PLLC

Weekly Update Newsletter - October 2020 #2

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LABOR & EMPLOYMENT - CLIENT ALERT: DOL Publishes Guidance on Diversity Training Executive Order - On September 22, 2020, the Trump administration issued Executive Order 13950 prohibiting workplace training that involves...more

Cole Schotz

Readying For The Return: US Department Of Labor Issues New FAQs Related To The FFCRA And Return To School Issues

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As we have recently posted on numerous occasions, the federal Families First Coronavirus Response Act (“FFCRA”) requires most employers with fewer than 500 workers to provide paid time off for specified reasons related to...more

Neal, Gerber & Eisenberg LLP

IRS Issues Guidance on Payroll Tax Deferral Program, Leaving Many Questions Unanswered

On August 28, 2020, the IRS issued Notice 2020-65 (“Notice”) to provide guidance concerning the Executive Order that President Trump issued on August 8, 2020 (“Executive Order”). Per the Notice, the Secretary of the Treasury...more

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