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

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“Modified Accelerated Cost Recovery System.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/Modified%20Accelerated%20Cost%20Recovery%20System. Accessed 28 Jan. 2021.

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