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
Test Your Vocabulary
Slippery Words Quiz—Changing with the Times
- What is an earlier meaning of nice?

Can you spell these 10 commonly misspelled words?
TAKE THE QUIZ
A daily challenge for crossword fanatics.
TAKE THE QUIZLove words? Need even more definitions?
Merriam-Webster unabridgedWords at Play
Ask the Editors
Word Games
Slippery Words Quiz—Changing with the Times
Do you know these earlier meanings of words?
Take the quizWords of Snow and Ice Quiz
A selection of words from the chillier parts of t...
Take the quizSpell It
Can you spell these 10 commonly misspelled words?
Take the quizWord Winder's CrossWinder Play the game
Share Modified Accelerated Cost Recovery System