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.
Child support is the financial obligation you have to support your child as he or she matures. If you have custody of your child, the courts assume that you fulfill your financial obligation. If your child does not live with you, however, the courts may require that you pay child support to the custodial parent. If the court requires that you pay child support, you will make payments until your child reaches the age of majority or adulthood, until your child is active-duty military, or until the court declares your child emancipated. If your child has special needs, you may make child support payments past childhood.