To amend the Internal Revenue Code of 1986 to provide an income tax credit for the costs of certain fertility treatments.

8/10/2024, 8:05 AM

IVF for Families Act

This bill establishes a nonrefundable tax credit of up to $15,000 for qualified fertility treatment expenses paid or incurred during the tax year.

Expenses that qualify for the tax credit include any amounts paid or incurred for procedures intended to facilitate pregnancy, including those that involve the handling of human egg, sperm, or embryo outside of the body (e.g., in vitro fertilization), and those that do not involve the handling of human egg, sperm, or embryo outside of the body (e.g., ovulation induction).

The tax credit may not be claimed for any fertility treatment expenses that were reimbursed by insurance or that are used to claim another tax credit or deduction.

Taxpayers who are married at the end of the tax year must file a joint return to claim the tax credit. The requirement to file a joint return does not apply to individuals legally separated, divorced, and some married individuals living apart.

Bill 118 hr 9333, also known as the Fertility Treatment Tax Credit Act, aims to amend the Internal Revenue Code of 1986 to provide an income tax credit for the costs of certain fertility treatments. The bill proposes to offer financial assistance to individuals and couples who are struggling with infertility and seeking medical interventions to conceive.

Under this legislation, individuals and couples who incur expenses for fertility treatments such as in vitro fertilization (IVF), intrauterine insemination (IUI), and other assisted reproductive technologies would be eligible for a tax credit to help offset the financial burden of these procedures. The tax credit would cover a portion of the costs associated with fertility treatments, making them more accessible and affordable for those in need.

The bill does not specify the exact amount of the tax credit or the eligibility criteria for individuals and couples to qualify for the credit. However, it is intended to provide support to those facing infertility challenges and seeking medical assistance to start or expand their families. Overall, the Fertility Treatment Tax Credit Act aims to address the financial barriers that many individuals and couples face when pursuing fertility treatments and to make these services more accessible and affordable for those in need.
Congress
118
Number
HR - 9333
Introduced on
2024-08-09
# Amendments
0
Sponsors
+5

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

IVF for Families Act

This bill establishes a nonrefundable tax credit of up to $15,000 for qualified fertility treatment expenses paid or incurred during the tax year.

Expenses that qualify for the tax credit include any amounts paid or incurred for procedures intended to facilitate pregnancy, including those that involve the handling of human egg, sperm, or embryo outside of the body (e.g., in vitro fertilization), and those that do not involve the handling of human egg, sperm, or embryo outside of the body (e.g., ovulation induction).

The tax credit may not be claimed for any fertility treatment expenses that were reimbursed by insurance or that are used to claim another tax credit or deduction.

Taxpayers who are married at the end of the tax year must file a joint return to claim the tax credit. The requirement to file a joint return does not apply to individuals legally separated, divorced, and some married individuals living apart.

Bill 118 hr 9333, also known as the Fertility Treatment Tax Credit Act, aims to amend the Internal Revenue Code of 1986 to provide an income tax credit for the costs of certain fertility treatments. The bill proposes to offer financial assistance to individuals and couples who are struggling with infertility and seeking medical interventions to conceive.

Under this legislation, individuals and couples who incur expenses for fertility treatments such as in vitro fertilization (IVF), intrauterine insemination (IUI), and other assisted reproductive technologies would be eligible for a tax credit to help offset the financial burden of these procedures. The tax credit would cover a portion of the costs associated with fertility treatments, making them more accessible and affordable for those in need.

The bill does not specify the exact amount of the tax credit or the eligibility criteria for individuals and couples to qualify for the credit. However, it is intended to provide support to those facing infertility challenges and seeking medical assistance to start or expand their families. Overall, the Fertility Treatment Tax Credit Act aims to address the financial barriers that many individuals and couples face when pursuing fertility treatments and to make these services more accessible and affordable for those in need.
Alternative Names
Official Title as IntroducedTo amend the Internal Revenue Code of 1986 to provide an income tax credit for the costs of certain fertility treatments.

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Recent Activity

Latest Summary11/4/2024

IVF for Families Act

This bill establishes a nonrefundable tax credit of up to $15,000 for qualified fertility treatment expenses paid or incurred during the tax year.

Expenses that qualify for the tax credit include a...

Latest Action8/9/2024
Referred to the House Committee on Ways and Means.