Webinar
Streamlining Inflation Reduction Act prevailing wage and apprenticeship compliance
Bonus energy tax credit solutions for contractors and project owners
April 9, 2024 · Authored by Laura Cataldo
Inflation Reduction Act (IRA) prevailing wage and apprenticeship is not the same as Davis-Bacon regulations previously seen on federally funded projects. To receive an allocation of this tax credit, a project will need to continually evaluate compliance and endure stringent record-keeping requirements for extended periods of time. Baker Tilly and LCPtracker have a end-to-end solution for contractors that offers complete data-set coverage, shielding proprietary payroll data from customers, while mitigating risk for project owners using technology to establish, monitor and document all three pillars of prevailing wage compliance: prevailing wage, apprenticeship and penalties.
Baker Tilly's Inflation Reduction Act advisors recently held two webinars in coordination with LCPtracker exploring the prevailing wage and apprenticeship (PW&A) enhancement credit, stringent regulations and our compliance solution. In today's competitive marketplace, PW&A compliance presents project owners with an opportunity to optimize their tax credit earning potential, while also providing contractors and subcontractors a competitive advantage if they can substantiate compliance. By understanding and adhering to PW&A standards, contractors position themselves to secure contracts and assist project owners in maximizing opportunities under the IRA.
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