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 Calculation. Once the court has added together the parents' income, imputed income if warranted, and subtracted allowable deductions, it determines the minimum need for child support based upon the parents' combined net incomes and how many children need to be supported.