Description

ACCNJ will host a webinar covering the Inflation Reduction Act of 2022 (IRA). The IRA provides for tax credits or deductions for certain clean energy projects to taxpayers that ensure Davis-Bacon Act prevailing wages are paid to workers and registered apprentices are utilized on these projects in accordance with IRA rules.

The goals of the webinar are to:

1. Identify and describe the types of construction projects for which tax credits and/or deductions may be available to businesses and construction users;
2. Explain the IRA implementing regulation issued by the Internal Revenue Service on June 25, 2024, regarding the payment of prevailing wages and the utilization of apprentices; and
3. Review the specific IRA prevailing wage and apprentice utilization requirements and related recordkeeping obligations.

The tax credits available include:

• Alternative Fuel Refueling Property Credit
• Production Tax Credit
• Credit for Carbon Oxide Sequestration
• Credit for Production of Clean Hydrogen
• Clean Fuel Production Credit
• Investment Tax Credit
• Advanced Energy Project Credit
• Energy Efficient Commercial Buildings Deduction

Join us on November 19, 2024, at 11:30 AM, to learn more about the Inflation Reduction Act and how it impacts your business.