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.
1 They are not the âqualifying childâ of another taxpayer or your âqualifying childâ. 2  Gross Income â Dependent earns less than $3,700 TY 2011 and $3,650 TY 2010. 3  Total Support â You provide more than half of the total support for the year. Age â Must be under age 19 or under 24 and a full-time student for at least 5 months. 2  They can be any age if they are totally and permanently disabled. 3  Support â Must not have provided more than half of their own support during the year.