A municipality’s guide to prevailing wage and apprenticeship compliance

The Inflation Reduction Act (IRA) created game-changing opportunities for non-taxable entities to take advantage of direct payment provisions, in lieu of energy incentives and tax credits. Complying with prevailing wage & apprenticeship under IRA can significantly enhance credit value.

Unfortunately, compliance is not straightforward and is hard to substantiate. Local governments and other entities with clean energy projects seeking IRA tax credits have signatory risk and need to fully trust contractors to comply to maximize credit value. Many contractors do not have the capability to capture daily wage and apprenticeship data to avoid penalties.

Prevailing wage laws and apprenticeship programs play crucial roles in supporting municipalities and ensuring fair labor practices. Tracking compliance programs over time is essential for organizations to remain compliant. Baker Tilly and LCPtracker have a solution for municipalities that offers complete data-set coverage and uses technology to establish, monitor and document all three pillars of compliance: prevailing wage, apprenticeship and penalties.

Watch the webinar for detailed insights and practical steps to navigate prevailing wage and apprenticeship requirements under the IRA. Understand what steps municipalities can take to maximize IRA credit value and how to simplify compliance with our solution. Lauren Cataldo and Doug Baldessari share important information, including:

• Brief review of the Inflation Reduction Act and direct pay provisions for municipalities
• Overview of the prevailing wage and apprenticeship regulations and how they differ from Davis-Bacon
• Preview our end-to-end compliance solution in LCPtracker to streamline compliance with prevailing wage and apprenticeship requirements
• Recommended next steps for municipal project owners to optimize compliance and take advantage of the IRA’s benefits
  

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.