How to substantiate prevailing wage and apprenticeship to earn the 5X bonus credit

The Inflation Reduction Act (IRA) is not Davis Bacon requirements – there are steps a contractor must take throughout the project, to allow the project owner’s tax preparer to be able to claim the IRA prevailing wage and apprenticeship (PW&A) bonus credit. Watch this on-demand recording for the latest updates on PW&A requirements for projects seeking IRA credits. Our industry specialists also provide an overview of our new PW&A compliance portal.

In addition to satisfying prevailing wage requirements, you must maintain and preserve sufficient records along the way. We’ll show how contractors can easily submit weekly payroll data to generate certified payrolls for compliance and how we evaluate apprenticeship and penalty requirements against certified payrolls to provide dashboard transparency for all project participants.

Key takeaways:

• The latest updates and guidance related to prevailing wage and apprenticeship
• An overview of our new PW&A compliance portal
• Recommend next steps for project owners so they don’t experience an unnecessary credit loss or a loss of their credit altogether

Presenters:

• Dan Bolinson, Senior Manager
• Laura Cataldo, Director
• Bob Hofacker, Senior Manager
• Cory Wendt, Principal

The information provided here is of a general nature and is not intended to address the specific circumstances of any individual or entity. In specific circumstances, the services of a professional should be sought. Tax information, if any, contained in this communication was not intended or written to be used by any person for the purpose of avoiding penalties, nor should such information be construed as an opinion upon which any person may rely. The intended recipients of this communication and any attachments are not subject to any limitation on the disclosure of the tax treatment or tax structure of any transaction or matter that is the subject of this communication and any attachments.