Hearing Aid Tax Credit Legislation

Ocean Hearing Care encourages you to write your Congressman and Senator to support this Hearing Aid Tax Credit (Assistance) Legislation!

Hearing Aid Tax Credit legislation 

Congressman Tom Latham (R-IA) and Congresswoman Carolyn McCarthy (D-NY) introduced H.R. 1479, the Hearing Aid Assistance Tax Credit Act, along with 34 original co-sponsors. This legislation provides a tax credit of up to $500 toward the purchase of a hearing aid, available once every five years. The tax credit would be available to those individuals aged 55 years and older, dependents of taxpayers, or taxpayers whose adjusted gross income is below $200,000. The Senate companion to this bill, S. 905, introduced by Senators Tom Harkin (D-IA) and Olympia Snowe (R-ME) with 8 original cosponsors, differs in that it extends the tax credit to all individuals with no restrictions based on age or income.

Hearing Aid Tax Credit Legislation in the 112th Congress
 Write to Your Senator or Representative

 

H.R. 1317: Hearing Aid Assistance Tax Credit Act 2013

Introduced:

Mar 21, 2013

Sponsor:

Rep. Tom Latham [R-IA3]

Status: Referred to Committee

LIBRARY OF CONGRESS SUMMARY

 

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress:

3/21/2013–Introduced.

Hearing Aid Assistance Tax Credit Act 2013 – Amends the Internal Revenue Code to allow a nonrefundable income tax credit of up to $500 for the purchase of a qualified hearing aid for the taxpayer, the taxpayer’s spouse, or a dependent of the taxpayer. Denies such tax credit to any taxpayer whose modified adjusted gross income exceeds $200,000.

The actual bill as submitted is seen below:

113th CONGRESS

1st Session

H. R. 1317

IN THE HO– USE OF REPRESENTATIVES

March 21, 2013

Mr. Latham (for himself, Mrs. McCarthy of New York, Mr. Payne, Mr. Carter, Mr. Capuano, Ms. Schwartz, Ms. Titus, and Mr. McKinley) introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to allow a credit against income tax for the purchase of hearing aids.

1.SHORT TITLE

This Act may be cited as the “ Hearing Aid Assistance Tax Credit Act 2013 ”.

2.CREDIT FOR HEARING AIDS FOR SENIORS AND DEPENDENTS

(a) In General

Subpart A of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 (relating to nonrefundable personal credits) is amended by inserting after section 25D the following new section:

25E.CREDIT FOR HEARING AIDS

(a) Allowance Of Credit

In the case of an individual, there shall be allowed as a credit against the tax imposed by this chapter an amount equal to the amount paid during the taxable year, not compensated by insurance or otherwise, by the taxpayer for the purchase of any qualified hearing aid.

(b) Qualified Hearing Aid

For purposes of this section, the term qualified hearing aid means a hearing aid—

(1) which is described in sections 874.3300 or 874.3305 of title 21, Code of Federal Regulations, and is authorized under the Federal Food, Drug, and Cosmetic Act for commercial distribution, and

(2) which is intended for use—

(A) by the taxpayer (or the spouse of the taxpayer in the case of a joint return), or

(B) by an individual with respect to whom the taxpayer, for the taxable year, is allowed a deduction under section 151(c) (relating to deduction for personal exemptions for dependents).

(c) Limitations

(1) Maximum amount

The amount allowed as a credit under subsection (a) shall not exceed $500 per qualified hearing aid.

(2) Limitation based on modified gross income

(A) In general

In the case of a taxpayer whose modified adjusted gross income exceeds $200,000 for any taxable year, the amount allowed as a credit under subsection (a) for such taxable year shall be zero.

(B) Modified adjusted gross income

For purposes of this paragraph, the term modified adjusted gross income means the adjusted gross income of the taxpayer for the taxable year increased by any amount excluded from gross income under sections 911, 931, or 933.

(d) Election Once Every 5 Years

This section shall apply with respect to any individual for any taxable year only if there is an election in effect with respect to such individual (at such time and in such manner as the Secretary may by regulations prescribe) to have this section apply for such taxable year. An election to have this section apply with respect to any eligible individual may not be made for any taxable year if such an election is in effect with respect to such individual for any of the 4 taxable years preceding such taxable year.

(e) Denial Of Double Benefit

No credit shall be allowed under subsection (a) for any expense for which a deduction or credit is allowed under any other provision of this chapter.

(b) Clerical Amendment

The table of sections for subpart A of part IV of subchapter A of chapter 1 of such Code is amended by inserting after the item relating to section 25D the following new item:

Sec. 25E. Credit for hearing aids.

(c) Effective Date

The amendments made by this section shall apply to taxable years beginning after December 31, 2012.