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On August 16, 2022, President Biden signed into law the Inflation Reduction Act of 2022 (the Act), which extends and expands existing tax credits and adds several new energy tax credits to encourage the production of clean energy and reduce carbon emissions. On November 30, 2022, the Internal Revenue Service published Notice 2022-61 (the Notice) providing initial guidance on the Inflation Reduction Act’s Prevailing Wage and Apprenticeship Requirements.
By John Kirkwood and Jason Deppen and Virginia Speck, FaegreDrinker Special to The Digest On August 16, 2022, President Biden signed into law the Inflation Reduction Act of 2022 (the “Act”), which extends and expands existing tax credits and adds several new energy tax credits to encourage the production of clean energy and reduce carbon emissions.
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