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.
Similarly, payments from a state or county for foster care are considered support provided by the state or county. Child Tax Credit. The child tax credit allows you to claim a credit of $1,000 for each qualifying child. Thus, for example, a taxpayer with four qualifying children will be entitled to a credit of $4,000.