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.
Individuals going through a divorce must consider that child support or alimony they are paying or receiving is taxable or tax deductible. If youâre going through a divorce, you may have questions about alimony, child support, and taxes. The IRS governs what can be taxed and the general rule is: alimony is deductible while child support is not.