ACRS


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ACRS

Accelerated Cost Recovery System

An accounting technique formerly used in the United States to tax a tangible asset based upon its estimated depreciation. The estimated depreciation bore only a rough relationship to an asset's actual life, and was designed to decrease the taxation in the early years of an asset's ownership. ACRS was instituted by the Economic Recovery Act of 1981 and amended in 1986 to create the Modified Accelerated Cost Recovery System. See also: Absolute Physical Life.

ACRS

ACRS

See accelerated cost recovery system.

Accelerated Cost Recovery System (ACRS)

The system of depreciation mainly used for property placed in service after 1980 and before 1987. ACRS is also used for certain property placed in service after 1986 that is acquired from a related party who used the property before 1987. See Modified Accelerated Cost Recovery System (MACRS) for property placed in service after 1986.
References in periodicals archive ?
For depreciable property other than realty, one calculation is required for ACRS property but another, and possibly two, are required for MACRS property.
For a copy of the ACRS letter, please go to the following link: http://adamswebsearch2.
In addition, all depreciation taken on ACRS commercial real property will be recaptured at ordinary rates under Sec.
1 million of depreciation claimed on the building is subject to recapture, became ACRS depreciation was used and the building is nonresidential property.
Abdel-Khalik, current ACRS chairman, is a Southern Nuclear Distinguished Professor at George W.
For instance, the search request ACRS OR depreciation AND recapture will cause the program to search for all the documents in a database that contain "ACRS" or "depreciation," and "recapture.
The ACRS, a group of experienced technical experts, advises the commission independently from the NRC staff on safety issues related to the licensing and operation of nuclear power plants.
Note that the Service disallowed the claimed loss not on the basis that the unrecovered cost must continue to be recovered under the ACRS schedule, but that the unrecovered cost was part of the cost of acquiring another amortizable asset (a lease) over which the unrecovered cost was to be recovered.
168(f)(1) was relief from the required recovery periods of ACRS depreciation so that, in appropriate situations, taxpayers could elect a depreciation method not expressed in terms of years.
165 and its regulations are in conflict with the Service's position and proposed ACRS regulations.
56(g)(4)(I) does not distinguish between ACRS and MACRS property.
The definition of predominant use outside the United States under post-1986 MACRS is the same definition as under pre1987 ACRS.