phase out

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Phase Out

To gradually end something, especially a project. For example, a company seeking to wind down its research and development department my phase it out by cutting its budget successively over several years.
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phase out

To bring to an end in stages. Typically encountered with tax benefits that are phased out—decreased or diminished—over the course of several years.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
(5) Instructional steps necessary to phase out the tax benefit item.
Another issue is the possible impact of exemption phase outs on minimum alternate tax (MAT).
The phase out is generally at a rate of 10% of AGI, and 5% of AGI on a joint return.
Benefits specifically targeted to low-income taxpayers (such as the earned income credit, elderly credit and dependent care credit) would phase out under the low-income taxpayer phase-out range.
The phase out of personal exemptions for high income taxpayers is likewise slated to expire shortly.