Accelerated Cost Recovery System (ACRS)
A system of depreciation introduced by the Economic Recovery Tax Act of 1981. ACRS depreciation is based on recovery periods instead of useful life. These periods were predetermined by the IRS. Investopedia Says:
The modified accelerated cost recovery system (MACRS) replaced ACRS for property placed into service after 1986. Related Terms:
Adjusted Basis
Adjusted Cost Base
Declining Balance Method
Depreciation
Internal Revenue Service - IRS
Modified Accelerated Cost Recovery System - MACRS
Tax Reform Act of 1986
Useful Life |