What's Trending Now
More Trending Words
Law Dictionary
Modified Accelerated Cost Recovery System
noun
Legal Definition of Modified Accelerated Cost Recovery System
: 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
From the M-W Editors
Seen and Heard
What made you want to look up Modified Accelerated Cost Recovery System? Please tell us where you read or heard it (including the quote, if possible).
Writing? Check your grammar now!