Accelerated cost recovery system (ACRS) - Financial definition
Financial acronyms
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Country
: United States of America
Concise definition of the term accelerated cost recovery system
The ACRS was a depreciation method for assets between 1981 and 1986 in the United States applicable to all assets purchased in that period. Its goal was to provide Federal tax breaks.
Comprehensive definition of the term accelerated cost recovery system
In 1986, the ACRS was replaced by the modified accelerated cost recovery system (MACRS).