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In Environment

United States: IRS releases guidance on ‘prevailing wage’ and ‘apprenticeship’ requirements

by and 1 Min Read

On 30 November 2022, Treasury and the IRS published Notice 2022-61, which provides much-awaited guidance on the application of “prevailing wage” and “apprenticeship” requirements relevant to determining the amount of several renewable energy and other clean technology tax credits that were enacted, extended or modified by the Inflation Reduction Act. The guidance provided by the Notice is fairly scant and leaves a number of issues unaddressed. It seems that the issuance of the Notice was rushed in order to start the 60-day period after which taxpayers will need to satisfy the “prevailing wage” and “apprenticeship” requirements, to the extent applicable, to claim the maximum tax benefit for projects (i.e., projects the construction of which begins on or after 29 January 2023).

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In Employment

Looking Ahead: Key Themes and Recommendations for US and Global Employers in 2023

by , , , and 2 Mins Read

Between maintaining business continuity and keeping your workforce safe, we know there’s been little time to track the rapidly changing employment, compensation and mobility law landscape — in Illinois, across the US, and globally. This webinar, co-hosted by the Association of Corporate Counsel – Chicago Chapter on 12 January 2023, is designed to ensure that Midwest in-house counsel are up to speed on the top developments of 2022 and are prepared for what’s on the horizon in 2023.

In Trade and Foreign Investment

United States and Africa: Building strong partnerships

by 8 Mins Read

The strengthening partnerships between the United States and African countries is evident in recently announced initiatives that focus on sustainability and community empowerment and that provide reciprocal benefits for the citizens of both regions. Such initiatives include, for example, increased US support for climate, clean energy and infrastructure development projects in Africa, and programs that boost reciprocal trade and investment between the two regions.

In Sanctions

Canada imposes additional sanctions on the Iranian regime

by and 3 Mins Read

On 2 December 2022, Canada announced further amendments to the Special Economic Measures (Iran) Regulations in response to the Iranian regime’s “gross and systematic human rights violations and actions that continue to threaten international peace and security”. These amendments list an additional four individuals and five entities under Schedule 1 of the Regulations and took effect on 29 November 2022.

In Sanctions

United States: OFAC issues Russian crude oil-related determination

by , and 1 Min Read

Baker McKenzie’s Sanctions Blog published the alert titled OFAC Issues Russian Crude Oil-related Determination, Guidance on Implementation of the Price Cap Policy for Russian Crude Oil, and Russia-related General Licenses on 2 December 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.

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