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JOHN GOMES SCHOOL PARENT BULLETINLOVE, LEARN, LEAD TOGETHER! VOLUME 49 Mr. Douglas V. Whipple, PrincipalNUMBER 9April 1, 2017 Mrs. Contra S. CollantesKathain, SecretaryPrincipals Message A reminder,
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Whipple principal refers to a tax law principle that allows certain individuals to attribute income earned by a corporation to themselves for tax purposes.
Individuals who meet certain criteria and have income attributed to them under the Whipple principal tax law are required to file.
To fill out the Whipple principal, individuals should follow the guidelines provided by the tax authorities and accurately report the attributed income.
The purpose of the Whipple principal is to prevent individuals from avoiding taxes by attributing income earned by a corporation to themselves.
The Whipple principal requires individuals to report the attributed income earned by a corporation, along with other relevant financial information.
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