Phased-In Retirement Is Generally Used as a Means of Allowing

question 44

True/False

Phased-in retirement is generally used as a means of allowing older employees to gradually leave an organization.

---

Definitions:

Tax Liability

The total amount of tax owed by an individual, corporation, or other entity to a taxing authority.

Quarter

A three-month period on the financial calendar that corporations use to report their earnings and performance, commonly divided into Q1, Q2, Q3, and Q4.

Semiweekly Schedule Depositor

A designation for businesses that must deposit employee withholding taxes and employer taxes on a semiweekly basis.

Federal Taxes

Taxes levied by the national government of the United States on income, property, and goods and services.