What does ACRS stand for?

168(b)(2)(D) for property otherwise eligible for the modified accelerated cost recovery system (MACRS) (200% DB method).

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.

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).

Property to which the Modified Accelerated Cost Recovery System (MACRS) applies (generally, property placed in service after 1986) but placed in service before tax years beginning after 1989.