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Penalties › Prevailing Wages › Tax Credits

Holland & Knight LLP

IRS Releases Form 4255 to Report Prevailing Wage and Apprenticeship Penalty Amounts

Holland & Knight LLP on

The IRS recently released an updated Form 4255, Certain Credit Recapture, Excessive Payments, and Penalties, which is used to report the amount due for certain credit recaptures, excessive payments, excessive credit transfers...more

Vinson & Elkins LLP

The Very Timely PWA Requirements Finalized

Vinson & Elkins LLP on

On June 18, 2024, the Department of the Treasury (the “Treasury”) and the Internal Revenue Service (the “Service”) issued final regulations (T.D. 9998) (the “Final Regulations”) regarding compliance with the prevailing wage...more

BakerHostetler

Analysis of IRS Proposed Regulations Addressing the Renewable Energy Credit Prevailing Wage and Apprenticeship Requirements

BakerHostetler on

As covered in our prior alerts, the Inflation Reduction Act modified and reinstated existing renewable energy credits, enacted new renewable energy credits, and included a mechanism for certain tax credits to increase by a...more

Sheppard Mullin Richter & Hampton LLP

Inflation Reduction Act: Wage and Apprenticeship Requirements

Sheppard Mullin Richter & Hampton LLP on

President Joe Biden signed into law the Inflation Reduction Act of 2022 (“HR 5376”) (the “IRA” or the “Act”), on August 16, 2022. There are numerous tax credits in the legislation that intend to facilitate access to...more

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