The key difference between single and head of household is that for tax purposes, you can qualify as single if you’re single (unmarried, divorced, or, legally separated) whereas you can qualify as head of household if you are single, have a qualifying child or relative living with you, and pay more than half the costs […]
Difference Between Federal Tax ID and EIN
Federal Tax ID vs EIN Both Federal Tax ID and EIN refers to a unique nine-digit number assigned by the Internal Revenue Service (IRS) to business entities operating in the United States. These two terms are synonyms, and there is no difference between Federal Tax ID and EIN although some people assume that they have different meanings. The term EIN […]
Difference Between IRS 1040 and 1040A and 1040EZ
Key Difference – IRS 1040 vs 1040A vs 1040EZ IRS 1040, 1040A and 1040EZ are three forms that taxpayers can use to file federal income tax return with IRS in the United States. The information requirement, complexity, and eligibility of taxpayers in each form are different from one another. The key differences between IRS 1040, […]
Difference Between W9 and 1099
Key Difference – W9 vs 1099 Tax filing can often be confusing with an abundance of related paperwork that bears various names and identifiers. W9 and 1099 are such two forms used for tax filing under the regulations of Internal Revenue Service (IRS). The key difference between W9 and 1099 is that W9 is […]
Difference Between I9 and W9
Key Difference – I9 vs W9 Employee verification and tax collection are two vital elements that governments are interested in. Governments in many countries have specified a number of rules and regulations for tax collection and employee verification. I9 and W9 are two forms used for such activities in the United States to ensure […]
Difference Between W2 W4 and W9
Key Difference – W2 vs W4 vs W9 Since tax amounts to a major source of revenue to the government, it is important to ensure that sufficient amounts are deducted from each taxpayer. W2, W4, and W9 are three tax-related documents in the United States that must be filled by employers, employees and independent […]
Difference Between ITIN and SSN
Key Difference – ITIN vs SSN ITIN (Individual Tax Identification Number) and SSN (Social Security Number) are two country-specific forms of identifications in the United States that are used for tax collecting purposes by the government. Knowledge regarding both ITIN and SSN makes it easier to distinguish between the two, especially for foreign nationals […]
Difference Between TDS and TCS
Key Difference – TDS vs TCS Indirect tax is a main source of income for governments since it often amounts to a major portion of the revenue that will be used in a number of development projects. TDS (Tax deducted at source) and TCS (Tax Collected at Source) are two terms given for types of […]
Difference Between TIN and TAN
Key Difference – TIN vs TAN Rules and regulations for tax payments should be effective in nature in order to avoid tax evasion. Governments continuously attempt to improve the ways of collecting tax efficiently since tax payments by the individuals and corporates is a main source of income for governments. TIN (Taxpayer Identification Number) […]
Difference Between PAN and TAN
Key Difference – PAN vs TAN Tax payments by individuals and corporates is a main source of income for governments. As a result, governments continuously attempt to improve the ways of collecting tax efficiently. PAN (Permanent Account Number) and TAN (Tax Deduction and Collection Account Number) are two identifiers issued by the Income Tax […]