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.
Do not count, as earned or unearned income, child support payments refunded to the non-custodial parent. Child support is income to the child. Exclude 1/3 of child support payments an eligible child receives from a non-custodial parent. Count child and spousal support received directly by the unit as unearned income.