Are Federal Work Study wages considered taxable income?
YES. Federal Work Study wages are taxable income. If taxes were withheld from your paycheck, you probably are eligible for a refund depending of course on your total annual earnings. It is in your best interest that you file a federal tax return with the IRS by April 15th. You will receive W-2 forms from Peralta for your work study earnings. How are Federal Work Study wages considered when I apply for financial aid the following year? Federal Work Study wages are excluded from consideration in the determination of your expected family contribution. The exclusion is effected by including the gross amount of your CWSP wages on Worksheet C of the FAFSA. Your CWSP wages are reported as part of your AGI and income from work on the FAFSA. We hope this has provided you with all the information you need to understand, apply for and participate in the Federal Work-Study Program. The Work-Study Office is located in the: Laney Tower, 2nd Floor, Rm. 208 The phone number is (510) 464-3417.
Related Questions
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