January 3, 2023
IRS Announces Prevailing Wage Requirement Updates
There are several new clean energy tax incentives available to construction companies in 2023 thanks to the Inflation Reduction Act. To qualify for the highest savings possible, taxpayers need to meet new prevailing wage and apprenticeship requirements. Unfortunately, the necessary guidance to allow compliance had not yet been issued. The good news is the IRS recently issued Notice 2022-61, which provides important guidance for builders, contractors, and developers, to understand how to meet the new rules.
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