Although the company the representative is purporting to be from is ACE Cash Express, Inc., it should be noted that ACE Cash Express, Inc., website: www.acecashexpress.com is licensed with the Department of Financial Institutions.
A: No, child support payments are not considered taxable income, according to the IRS. Child support payments are neither deductible by the payer nor taxable to the payee. So when you calculate your gross income to see if you are required to file a tax return, do not include child support payments received.
Therefore, an unallocated sum intended for both spousal support and child support could be allowable as taxable/deductible alimony as does not âfixâ an amount for child support. Child support, on the other hand, is neither tax deductible to the person who pays it nor is it taxable to the person who receives it.