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 Commentary
The modified accelerated cost recovery system (MACRS) replaced ACRS for property placed into service after 1986.
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Appreciating Depreciation
See also: 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
Also spelled: ACRS