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. In every Colorado divorce, legal separation, annulment or paternity case involving children, the Colorado family law court will determine whether one parent owes the other child support under Colorado child support law (C.R.S. 14-10-115). The starting point for child support calculations in Colorado is the gross (pretax) incomes of each parent.