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IRS Releases Notices Implementing the Tax Provisions Related to Prevailing Wage, Apprenticeship, and Energy Efficiency from the Inflation Reduction Act

The Internal Revenue Service (IRS) has released for public comment six long-awaited notices listed below on implementation of different tax benefits in the Inflation Reduction Act (IRA).  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;

Notice 2022-48 requests comments on incentive provisions in the IRA for improving the energy efficiency of residential and commercial buildings;

Notice 2022-46 requests comments on IRA tax credits for clean vehicles;

Notice 2022-47 requests comments on energy security tax credits in the IRA for manufacturing;

Notice 2022-49 requests for comments on certain energy generation incentives in the IRA; and

Notice 2022-50 requests comments on elective payment of applicable credits and transfer of certain credits under the IRA.

The IRS is requesting interested parties submit feedback on these requests for comments no later than November 4, 2022 pursuant to the directions detailed in the notices.

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