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.
Even survivor Social Security benefits paid to a minor child are potentially taxable income. The key word is potentially: Benefits are only taxable if you have added income besides Social Security. Few children have enough added income to require paying taxes on their benefits.ven survivor Social Security benefits paid to a minor child are potentially taxable income. The key word is potentially: Benefits are only taxable if you have added income besides Social Security. Few children have enough added income to require paying taxes on their benefits.