On June 18th, 2024, the IRS issued the final regulations for IRS Notice 2022-61, providing guidance on the prevailing wage and apprenticeship requirements for §179D. This is a major clarification for the Inflation Reduction Act (IRA) of 2022. While there is still a lot of confusion surrounding the latest update, taxpayers are always seeking additional […]
Building owners are increasingly realizing the advantages associated with the §179D deduction and legacy §45L tax credit. At Walker Reid, we specialize in assisting building owners with these two federal tax benefits for energy-efficient properties. Let’s unravel the specifics of these tax incentives, exploring eligibility criteria, qualifying factors, and the substantial impact they can have […]
The Legacy §45L tax credit offers developers a unique opportunity to capitalize on energy-efficient residential projects before the new, stricter requirements were necessary. With the old §45L tax credit requirements being phased out, it’s crucial for eligible contractors to act quickly to claim these benefits for projects completed before January 1, 2023. Understanding Legacy §45L […]