Tuesday, December 3, 2024
3-4:15 PM (ET), 12-1:15 PM (PT)
 

 The Inflation Reduction Act (IRA) created game-changing opportunities for many projects to capitalize on the largest energy investment in U.S. history through tax credits. Complying with prevailing wage and apprenticeship (PW&A) under the IRA can significantly enhance credit value by five times — therefore, many project owners are asking contractors to comply.

It took nearly two years for the PW&A requirement final rule, which left many contractors in a state of flux as project owners are pushing penalties and/or losses of credit to contractors. Yet, this is also a perfect opportunity to take advantage of $270 billion worth of tax credits and incentives in the longest-running U.S. energy policy.

Unfortunately, being “in accordance with” Davis-Bacon, but not a covered act, has created significant confusion for both credit seekers and contractors. This is an issue of tax credit compliance for the IRS, and there are recordkeeping requirements for an extended period of time.

This webinar reviews the fundamentals of the IRA base and adder credits, including domestic content, energy community, and prevailing wage, and uncovers the final PW&A rule, explains recordkeeping, and provides recommendations on how contractors can help their projects comply.

After this session, attendees will be able to:

• Recognize the significance of the IRA in creating opportunities for energy projects through tax credits.
• Understand the compliance requirements of the IRA prevailing wage and apprenticeship (PW&A) final rule.
• Acknowledge the IRS’s recordkeeping requirements related to tax credit compliance and maintaining records to defend under IRS audit.

Level & Prerequisites
This is a group-internet webinar at the Advanced Level. No prerequisites or advanced preparation is required.

CPE Information
Earn 1.5 CPE credits in the field of Taxes. Please note that CPE credit can only be earned by attending the live session and is not available by watching the recording.

CCIFP Information
Earn 1.5 CCIFP Professional Development credits toward the General or Construction Knowledge Requirement.

Who Should Attend?

• Business Owners
• CFOs
• Controllers
• CPAs
• Professional Advisors

Price

• Free for 2024 CFMC attendees
• $49 for CFMA Members
• $69 for Non-Members

Laura Cataldo, Director, Construction & Real Estate Advisory, Baker Tilly

Sponsored by

Arcoro offers proven modular HR solutions for construction and field-based industries. The company’s leading product suite and software platform offers end-to-end HR functionality to help drive business outcomes. With Arcoro’s flexible solutions, customers select the modules that meet their needs for talent acquisition, talent management, core HR, benefits administration, time and attendance tracking and more. Learn more at arcoro.com.

The Construction Financial Management Association (CFMA) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.