accelerated cost recovery system

Accelerated Cost Recovery System. An accounting method that is used to calculate asset depreciation and that allows for the faster recovery of costs by assigning the asset a shorter useful life than was previously permitted under the Internal Revenue Code. • This system applies to property put into service from 1981 to 1986. It was replaced in 1986 by the Modified Accelerated Cost Recovery System. — Abbr. ACRS. [Cases: Internal Revenue 3476. C.J.S. Internal Revenue §§ 230, 234, 239, 249.]

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词条贡献者

资深译员徐玲，知名法学院法律翻译专业，擅长翻译各类与财务重组相关的法律文件。