It depends on what part of IT you are looking at, and what your objective is. If you need money now - then get a job and use what you have learned. The more you have a passion for the topic the more likely a degree is needed. Because after you get a bachelors, you are likely to want a master etc.
Programmer / Database - definitely - I have been developing code for a long time, I have worked in many positions. When I work with people I can usually tell if they have a degree in CS or some other topic. Part of it is the mind set of the person, and their ability to comprehend issues. A math or engineering major will understand recursion when explained. Most math majors will be able to do recursion after an explanation. A history or business major will nod in agreement, but still have no idea what I explained. That being said I use recursion to distinguish better programmers who can / could be great and those that are on the B team.
Like others have said, not all CS majors are great programmers, and many are just bad. But the chances are better, but I think it has more to do with passion than anything else.
If desire to be a systems administrator, a CS degree can help, especially in scoring the interview, but is often more helpful to have certifications.
It is easier for a boss to justify a raise / promotion for someone with a degree than not. Take this extreme scenario:
you have 2 developers, one with a few programming certs and one with a CS PhD. A manager slot opens up... whom do you promote? How hard would it be to explain either promotion to upper management? If they screw up in the new position who will they blame (if its the PhD person they blame them. The other guy they blame you for promoting him beyond his skills).
If you want to do web pages, then I think the learn it on your own is the best tactic.
I would avoid a CIS degree. That appears to be a degree for people who cannot do CS but think a computer degree would be real cool. Last I looked there were a lot of unemployed CIS people.
The one advantage of starting work now, is you might be able to get the company to pay for your CS degree. But they almost never provide a good pay raise.