{"abstract":"This document contains proposed regulations regarding increased credit or deduction amounts available for taxpayers satisfying prevailing wage and registered apprenticeship (collectively, PWA) requirements established by the Inflation Reduction Act of 2022 (IRA). These proposed regulations would affect taxpayers intending to satisfy the PWA requirements for increased Federal income tax credits or deductions. These proposed regulations would also affect taxpayers intending to satisfy the prevailing wage requirements for increased Federal income tax credit amounts that do not have associated apprenticeship requirements. Additionally, these proposed regulations would affect taxpayers who initially fail to satisfy the PWA or prevailing wage requirements and subsequently comply with the correction and penalty procedures in order to be deemed to satisfy the PWA or prevailing wage requirements. Finally, the proposed regulations address specific PWA or prevailing wage recordkeeping and reporting requirements. The proposed regulations would affect taxpayers intending to claim increased credit or deduction amounts pursuant to the IRA, including those intending to make elective payment elections for available credit amounts, and those intending to transfer increased credit amounts. This document also provides notice of a public hearing on the proposed regulations.","action":"Notice of proposed rulemaking and public hearing.","agencies":[{"raw_name":"DEPARTMENT OF THE TREASURY","name":"Treasury Department","id":497,"url":"https://www.federalregister.gov/agencies/treasury-department","json_url":"https://www.federalregister.gov/api/v1/agencies/497","parent_id":null,"slug":"treasury-department"},{"raw_name":"Internal Revenue Service","name":"Internal Revenue Service","id":254,"url":"https://www.federalregister.gov/agencies/internal-revenue-service","json_url":"https://www.federalregister.gov/api/v1/agencies/254","parent_id":497,"slug":"internal-revenue-service"}],"body_html_url":"https://www.federalregister.gov/documents/full_text/html/2023/08/30/2023-18514.html","cfr_references":[{"chapter":null,"citation_url":null,"part":1,"title":26}],"citation":"88 FR 60018","comment_url":"http://www.regulations.gov/commenton/IRS-2023-0042-0001","comments_close_on":"2023-10-30","correction_of":null,"corrections":[],"dates":"Written or electronic comments and requests for a public hearing must be received by October 30, 2023. A public hearing on these proposed regulations is scheduled to be held on November 21, 2023, at 10 a.m. ET. Requests to speak and outlines of topics to be discussed at the public hearing must be received by October 30, 2023. If no outlines are received by October 30, 2023, the public hearing will be cancelled. Requests to attend the public hearing must be received by 5 p.m. ET on November 17, 2023. The public hearing will be made accessible to people with disabilities. Requests for special assistance during the hearing must be received by November 16, 2023.","disposition_notes":null,"docket_ids":["REG-100908-23"],"dockets":[{"supporting_documents":[{"title":"Public Hearing Agenda (REG-100908-23)","document_id":"IRS-2023-0042-0339"}],"agency_name":"IRS","documents":[{"comment_count":9646,"comment_start_date":"2023-08-30","updated_at":"2025-01-16T21:56:53.463-05:00","comment_url":"https://www.regulations.gov/commenton/IRS-2023-0042-0001","allow_late_comments":true,"id":"IRS-2023-0042-0001","comment_end_date":"2023-10-31","regulations_dot_gov_open_for_comment":true}],"supporting_documents_count":1,"id":"IRS-2023-0042","title":"Increased Credit or Deduction Amounts for Satisfying Certain Prevailing Wage and Registered Apprenticeship Requirements (REG-100908-23)"}],"document_number":"2023-18514","effective_on":null,"end_page":60054,"executive_order_notes":null,"executive_order_number":null,"explanation":null,"full_text_xml_url":"https://www.federalregister.gov/documents/full_text/xml/2023/08/30/2023-18514.xml","html_url":"https://www.federalregister.gov/documents/2023/08/30/2023-18514/increased-credit-or-deduction-amounts-for-satisfying-certain-prevailing-wage-and-registered","images":{},"images_metadata":{},"json_url":"https://www.federalregister.gov/api/v1/documents/2023-18514?publication_date=2023-08-30","mods_url":"https://www.govinfo.gov/metadata/granule/FR-2023-08-30/2023-18514/mods.xml","not_received_for_publication":null,"page_length":37,"page_views":{"count":24670,"last_updated":"2026-04-04 12:15:04 -0400"},"pdf_url":"https://www.govinfo.gov/content/pkg/FR-2023-08-30/pdf/2023-18514.pdf","presidential_document_number":null,"proclamation_number":null,"public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2023-18514.pdf?1693313131","publication_date":"2023-08-30","raw_text_url":"https://www.federalregister.gov/documents/full_text/text/2023/08/30/2023-18514.txt","regulation_id_number_info":{"1545-BQ54":{"issue":"202404","html_url":"https://www.federalregister.gov/regulations/1545-BQ54/advanced-manufacturing-investment-credit","title":"Advanced Manufacturing Investment Credit","xml_url":"http://www.reginfo.gov/public/do/eAgendaViewRule?pubId=202404&RIN=1545-BQ54&operation=OPERATION_EXPORT_XML","priority_category":"Substantive, Nonsignificant"}},"regulation_id_numbers":["1545-BQ54"],"regulations_dot_gov_info":{"supporting_documents":[{"title":"Public Hearing Agenda (REG-100908-23)","document_id":"IRS-2023-0042-0339"}],"regulatory_plan":{"html_url":"https://www.federalregister.gov/regulations/1545-BQ54/advanced-manufacturing-investment-credit","title":"Advanced Manufacturing Investment Credit"},"comments_count":9646,"agency_id":"IRS","comments_url":"https://www.regulations.gov/docketBrowser?rpp=50&so=DESC&sb=postedDate&po=0&dct=PS&D=IRS-2023-0042","supporting_documents_count":1,"docket_id":"IRS-2023-0042","document_id":"IRS-2023-0042-0001","regulation_id_number":"1545-BQ54","title":"Increased Credit or Deduction Amounts for Satisfying Certain Prevailing Wage and Registered Apprenticeship Requirements (REG-100908-23)","checked_regulationsdotgov_at":"2025-01-18T02:00:03Z"},"regulations_dot_gov_url":"http://www.regulations.gov/commenton/IRS-2023-0042-0001","significant":false,"signing_date":null,"start_page":60018,"subtype":null,"title":"Increased Credit or Deduction Amounts for Satisfying Certain Prevailing Wage and Registered Apprenticeship Requirements","toc_doc":"Increased Credit or Deduction Amounts for Satisfying Certain Prevailing Wage and Registered Apprenticeship Requirements","toc_subject":null,"topics":["Income taxes","Reporting and recordkeeping requirements"],"type":"Proposed Rule","volume":88}