Modified Accelerated Cost Recovery System
noun
: a method of calculating depreciation introduced in the Tax Reform Act of 1986 that replaced the Accelerated Cost Recovery System and that allows for faster recovery of costs for property put into service after 1986 over a longer period of time
Dictionary Entries Near Modified Accelerated Cost Recovery System
Cite this Entry
“Modified Accelerated Cost Recovery System.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/Modified%20Accelerated%20Cost%20Recovery%20System. Accessed 5 Nov. 2024.
Copy CitationLove words? Need even more definitions?
Merriam-Webster unabridged
Share