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Claim your prevailing wage and apprenticeship bonus credits with confidence
Prevailing Wage and Apprenticeship (PWA) credits represent the biggest bonus credits available under the IRA, but they also come with big penalties for noncompliance.
The PWA compliance conundrum
PWA bonus credits for renewable energy projects are five times the standard credit — that’s 30% of qualified project expenses. But these compelling tax incentives also come with complex rules and detailed reporting requirements. Businesses must be able to prove they have met PWA mandates, or they risk being fined $5,000 per laborer and, in some cases, even more.
The EY PWA app can help businesses investing in renewable energy projects to potentially take advantage of the incentives by helping document key information needed to comply with the complex reporting requirements.
Prevailing wages |
Apprenticeship mandates |
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The EY PWA app
This proprietary, easy-to-use app automates the process of gathering information to support that prevailing wages are paid, and apprenticeship requirements are met, so that a qualifying business can potentially qualify for the enhanced credit.
Learn what the PWA app can do for you
Like many businesses, you may have already claimed the PWA bonus credits and now you might be struggling with the reporting. Or maybe you weren’t planning to claim the credits due to compliance concerns. Either way, the PWA app can help your business claim bonus credits with confidence.
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