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.
Typically, a child will not receive enough from Social Security benefits to pay income taxes, but if the child has additional sources of income, a portion of the benefits might be taxable. When determining whether a childâs benefits are taxable, you must consider the childâs income separately from your own.ypically, a child will not receive enough from Social Security benefits to pay income taxes, but if the child has additional sources of income, a portion of the benefits might be taxable. When determining whether a childâs benefits are taxable, you must consider the childâs income separately from your own.