IRS T.D.: Increased Amounts of Credit or Deduction for Satisfying Certain Prevailing Wage, Registered Apprenticeship Requirements (IRC §45)

Final regulations regarding the increased credit amounts or the increased deduction amount available for taxpayers satisfying prevailing wage and registered apprenticeship (collectively, PWA) requirements established by the Inflation Reduction Act of 2022, the IRS released. These final rules affect taxpayers: (1) intending to satisfy the PWA requirements to be eligible for increased amounts of federal income tax credits or an increased deduction, including those intending to make elective payment elections for available credit amounts, and those intending to transfer increased credit amounts; (2) intending to satisfy the prevailing wage requirements to be eligible for increased amounts of those federal income ...