Hearing Aid Assistance Tax Credit Act

Key Points

• This bill creates a new tax credit of up to $1,000 for the purchase of hearing aids. The credit covers out-of-pocket costs not already paid by insurance.
• The credit has income limits: individuals earning over $150,000 and heads of household or joint filers earning over $300,000 would not qualify.
• The credit can be used for a hearing aid purchased for yourself or for a dependent, such as a child or elderly parent, as long as the device is FDA-authorized.
• To control costs, the credit can only be claimed once every five years per person. This roughly matches the typical replacement cycle for hearing devices.
• If enacted, the credit would take effect for tax years beginning after December 31, 2026, meaning taxpayers could first claim it on their 2027 tax returns.