What does ACR stand for?

Extension Property The Housing Act allows taxpayers to elect to accelerate AMT and research credits instead of taking bonus depreciation for new property that is (1) depreciable under a modified accelerated cost recovery system (MACRS) with a recovery period of 20 years or less, (2) MACRS water utility property, (3) off-the-shelf computer software depreciable over three years, or (4) qualified leasehold improvement property.

It resuscitated the Kennedy-era investment tax credit (ITC), which gave businesses partial reimbursement for the purchase of every new income-producing asset they acquired, and it added to this subsidy by allowing all those assets to be depreciated extremely rapidly under the new Accelerated Cost Recovery System (ACRS).

also gains tax credits from the Federal Investment Tax Credit (FITC) and from the Modified Accelerated Cost recovery System (MACRS) that provides additional tax credits from rapid depreciation of the asset.

WASHINGTON PHOENIX LOS ANGELES LONDON BRUSSELS Today, the Treasury Department and the IRS issued proposed and temporary regulations that provide guidance for computing depreciation deductions under the Modified Accelerated Cost Recovery System ("MACRS") in section 168 of the Internal Revenue Code when property is acquired in a like-kind exchange or as a result of an involuntary conversion.

They prohibited the use of component depreciation and created a new method referred to as Modified Accelerated Cost Recovery System or MACRS.

All this would get manufacturers past the current and creaking Modified Accelerated Cost Recovery System, a pretty long moniker for what econ profs used to simply call depreciation.

The authors cannily explain rather involved subjects such as corporate and individual AMT (Alternative Minimum Tax), amortization of intangibles, and MACRS (Modified Accelerated Cost Recovery System).

It is designed as a summary and working handbook for the three main depreciation-related revenue systems currently in use: the Modified Accelerated Cost Recovery System (MACRS); the Accelerated Cost Recovery System (ACRS); and the Asset Depreciation Range (ADR).