Will i get a W2 form if start doing work study in my college. would i have to file a tax return next year

Question

if i work in my college in fall

Answer 1

Yes, work study is taxable.  Yes, you will get a W 2 form.  Be sure you enter the total yearly amount of money you earned from Work study on the next fafsa form you fill out under "Worksheet C" so you can get the most benefits from this program.  

Answer 2

the person above me is wrong work study is not taxable but you do have to file a W-4 form for the governments records. Work study is government allotted money that they give your college and that in turn your college gives to you in exchange for work. If you are still unsure call your schools financial aid office

again maybe the person above me needs to check with their college as i have spoke numerous times with my work study coordinator and the financial aid office at my school. YOU WILL NOT GET TAXED on the money you make with work study as it is GOVERNMENT MONEY that the GOVERNMENT gives your school you can make up to $600 per semester $1200 for the year. You have to fill out a W-4 form as i have said before. The best advice would be for your to simply call your school.

Answer 3

Yes, you will get a W-2 form, and yes, money earned from the Federal Work-Study program is taxable. You will be subject to withholding taxes, which will be deducted directly from your paychecks.

Keep in mind that the total income you will receive from FWS is rather limited - that alone won't take you anywhere near the minimum income that triggers a tax liability. If this is your only form of income, you should file a tax return at the end of the year, and all of the taxes that were withheld would most likely be returned to you.

The general rule is that any money that is paid to you in exchange for services you provide is taxable, and that's exactly what the Federal Work-Study program represents.

I hope that helped. Good luck!

Edit: The other respondent (who questions my answer) is incorrect. If it helps, I can cut and paste from several college websites:

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WORK STUDY EARNINGS ARE TAXABLE INCOME.

Earnings must be reported to the IRS if you file an income tax return. You will receive a W2 form from the Student Accounts Office in January.

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Is College Work Study taxable?

Yes. Any money you receive as a result of work is considered taxable income. You will be asked to file a withholding form (W-4), and you will receive a statement of income and taxes withheld form (W-2) each calendar year.

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Taxable Federal Work-Study Earnings

Earnings under the federal work-study program are earned income and subject to federal, state, and local tax withholding. Students employed under the federal work-study program will receive a W-2 form at the end of January, which documents all earnings at the University. It is the student's responsibility to report FWS earnings on their income tax returns. It is also the student's responsibility to report all taxable earnings as earned income and as an exclusion on Worksheet C of the FAFSA for the next award year.