Modified Accelerated Cost Recovery System - MACRS

See: Accelerated Cost Recovery System - ACRS.

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Actually, the Modified Accelerated Cost Recovery System is the system accountants in the U.S. use to record depreciation. It shows them what annual deductions to record over the life of an asset.

The system developed as a result of the Tax Reform Act of 1986. It represented an updated form of the Accelerated Cost Recovery System, which was the previous depreciation system, before the new 1986 rules required some tweaks.