The IVF Access and Affordability Act would create a federal tax credit to help individuals and couples afford fertility treatments, specifically assisted reproductive technology procedures like in vitro fertilization. The credit would allow eligible taxpayers to claim up to $20,000 per year in fertility treatment expenses on their taxes, or up to $40,000 for married couples filing jointly, with the credit phasing out for higher-income taxpayers earning above $200,000 individually or $400,000 jointly. The legislation also permits unused credits to be carried forward to the next five years if they exceed the taxpayer's tax liability in the current year. The bill would apply to tax years beginning after its enactment and includes protections to prevent double-dipping by ensuring taxpayers cannot claim both this credit and other deductions or credits for the same expenses, and that expenses covered by insurance are not eligible for the credit.
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