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
9/11/2023
/ Apprenticeships ,
Books & Records ,
Compliance ,
Davis-Bacon Act ,
Department of Labor (DOL) ,
Federal Contractors ,
Final Rules ,
Inflation Reduction Act (IRA) ,
Investment Tax Credits ,
IRS ,
Penalties ,
Prevailing Wages ,
Production Tax Credit ,
Proposed Regulation ,
Recordkeeping Requirements ,
Subcontractors ,
U.S. Treasury ,
Wage and Hour
The Inflation Reduction Act of 2022 (the Act) included multiple tax benefits for hydrogen production, storage and utilization, summarized in the following King & Spalding Client Alert. Many of these provisions became...more
2/23/2023
/ Apprenticeships ,
Davis-Bacon Act ,
Department of Energy (DOE) ,
Department of Labor (DOL) ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
Prevailing Wages ,
Production Tax Credit ,
Solar Energy ,
Wind Power
On April 27, 2021, President Biden issued an Executive Order under his authority as President and through the Federal Property and Administrative Services Act, 40 U.S.C. 101 et seq., increasing the minimum wage paid to...more