Why Scholarships Ask For W9 Forms

Why Scholarships Ask For W9 Forms – It said i had to turn in some documents (transcripts, acceptance forms, etc) to receive the scholarship. Surprised they are asking for it since it is under $600 but they can give you a 1099 still if it is under $600, they just aren't required to. If they fail to get one signed, they may have to withhold taxes at 24%. You do get a standard deduction of $6200 for 2014 before any taxable scholarships/grants + any other income would actually require tax to be paid.

1) if the org is making a payment directly to the school or some other vendor on the students behalf (landlord?) 2) if the student is submitting a reimbursement request to the org and the payment is a direct reimbursement of that specific expense. So if you refuse to. In itself it's not fishy. When i contacted the scholarship director, she replied the w9 is now required by the irs for any trust fund scholarship applicants.

Why Scholarships Ask For W9 Forms

Why Scholarships Ask For W9 Forms

Does that mean i will be taxed? W9 is the form to enable the awarding entity to account for paying you the award you won. However, spear phishing being what it is, it does not hurt to confirm the validity of the request.

Students use this form to give their social security number (ssn) or individual taxpayer identification number (itin) to an educational institution or a lender of a student loan and, if applicable, to certify. I’ve never had a scholarship ask me for that before. Use a method other than reply to confirm the legitimacy.

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