ACRS


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ACRS

Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

ACRS

Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

ACRS

See accelerated cost recovery system.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.

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.
Copyright © 2008 H&R Block. All Rights Reserved. Reproduced with permission from H&R Block Glossary
References in periodicals archive ?
Getting ACRs for the last year is a real trouble because a majority officers under whom we served have either gone out of the province or the country.
When irrigation sources told that a nationalist was also involved in the water theft and cultivating hundreds of acrs of Sukkur barrage by getting illegal water from Akram wah.
Gandhi had filed an RTI with the state government on December 12, 2012 seeking replies on the number of IAS officers for whom ACRs and APRs had been received for 2011- 12 as well as for two years prior to that.
Description: 49.1 acrs irrigation, Pears 47.7 acrs, Cherries 1.4 acrs
Obama and Congress should have stepped back from the current spending bill and turned it into a stimulus bill: identify the overriding strategic visions; invest in infrastructure for those visions; and then bring back the ITC and ACRS deductions to get the private sector hack in the game.
The IRS and Tax Court disagree as to whether taxpayers must determine an asset's useful life to depreciate it under ACRS (and modified ACRS (MACRS)).
3r), and the last abbess mentioned is Clara Donato, who was dead by 22 December 1523 (ACRS, S.
In particular, the outermost ring contains a cluster of bright acrs, strung out like elongated beads along a dusty thread.
Indeed, the magnitude of the adjustment for five-year ACRS property in the last year of its regular tax depreciation life can be staggering (see Example 3).
Features include: an pull-down menu system; support of all depreciation methods including ACRS and MACRS and those for pre-ACRS assets, book depreciation, or amortizable assets; unlimited number of companies to maintain depreciation schedules for; unlimited number of assets for a company; up to five depreciation calculations possible for each asset entered; user-determined number of methods and descriptions for each method when creating a depreciation file; calculation of monthly, annual, next-year's, prorated, short-year and projected depreciation; automatic application of listed property limitations and the provisions of the mid-quarter convention where appropriate; a wide variety of reports; and more.
Other property (property placed in service before 1981 and other property to which neither MACRS nor ACRS apply).
There was also a debate on who would write the annual confidential reports (ACRs) of the deputy commissioner and superintendent of police (SP) and other officers in districts.