accelerated cost recovery system

Accelerated Cost Recovery System
Accelerated Cost Recovery Sys·tem n: a method of calculating depreciation introduced in the Economic Recovery Tax Act of 1981 that results in faster recovery of costs for property put into service after 1980 by assigning it a shorter useful life than that previously allowed by the tax code

Merriam-Webster’s Dictionary of Law. . 1996.

accelerated cost recovery system
n.
An accounting method that writes off the cost of a fixed asset over a period of time. See also cash method
abbrv.
ACRS

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.

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  • accelerated cost recovery system — In the USA, a system of depreciation designed to encourage capital investment by businesses. It permits a quicker recovery of an asset s cost to provide higher tax benefits in the earlier years of its use. A higher depreciation charge is made to… …   Accounting dictionary

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