Accelerated Cost Recovery System

Accelerated Cost Recovery System

noun | Accelerated Cost Recovery Sys·tem

  1. : 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 — compare modified accelerated cost recovery system

    Note: The Modified Accelerated Cost Recovery System replaced the Accelerated Cost Recovery System in 1986.