Treasury Releases Guidance on New Energy Tax Credit Labor Provisions
The Treasury Department on Nov. 29 released initial guidance in IRS Notice 2022-61 regarding the Inflation Reduction Act’s labor requirements that apply to some of the energy tax incentives.
To claim the full credit amount for certain incentives, taxpayers are required to pay workers the “prevailing wage,” and in other cases, also hire a certain number of registered apprentices.
The prevailing wage and apprenticeship requirements apply to the Section 45 Production Tax Credit, the Section 48 Investment Tax Credit, and the Section 179D Energy Efficient Commercial Buildings Deduction, among others.
The prevailing wage requirements also apply to the Section 45L New Energy Efficient Home Tax Credit.
The Department of Labor separately issued two Frequently Asked Question (FAQ) documents to help taxpayers comply with these requirements: One on prevailing wage and the other on apprenticeships.
Learn more about the Inflation Reduction Act.
Latest from NAHBNow
Oct 06, 2025
Make Fire Prevention Part of Your Jobsite Safety CultureOctober 5-11 is National Fire Prevention Week, an annual public outreach and awareness campaign by the National Fire Protection Association.
Oct 03, 2025
NAHB's Monthly Update Features Government Shutdown Talking PointsThe update provides the latest messaging framework to help members articulate housing priorities and latest news related to the recent government shutdown and new tariffs.
Latest Economic News
Oct 03, 2025
Supply-Side Cost Pressures Drove Housing as Inflation Leader in 2024Though the rate of inflation peaked in June 2022, consumer prices continued to increase throughout 2023 and 2024 as inflation drove further price growth, according to 2024 CPI review from the Bureau of Labor Statistics.
Oct 02, 2025
Square Foot Prices Moderate in 2024Median square foot prices for new single-family detached (SFD) homes started in 2024 grew modestly, according to NAHB’s analysis of the latest Survey of Construction (SOC) data. For custom, or contractor-built, homes, the median price was $166 per square foot of floor space, up slightly from $162 in 2023.
Oct 02, 2025
17% of NAHB Builders Built Age-Restricted Housing in 2024Only 17% of NAHB builder members build age-restricted housing for people age 55 or older, according to 2024 Member Census. This is up two percentage points from the previous year. However, this share has remained within a narrow band (15%-17%) since the question was added to the member census in 2009.