Modified Accelerated Cost Recovery System (MACRS)
A 1986 act that set out rules for the depreciation of qualifying assets, allowing for greater acceleration over longer periods of time. | ||||
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MACRS definition was found in categories: Law(1) Encyclopedia(1)
MACRS Definition from Law Dictionaries & Glossaries
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Modified Accelerated Cost Recovery System (Macrs)
A system of computing and allocating depreciation of property and equipment over one or more periods that is prescribed by the Internal Revenue Code. The MACRS system is a modification of the Accelerated Cost Recovery System method of depreciation introduced in the Tax Reform Act of 1986.
A system of computing and allocating depreciation of property and equipment over one or more periods that is prescribed by the Internal Revenue Code. The MACRS system is a modification of the Accelerated Cost Recovery System method of depreciation introduced in the Tax Reform Act of 1986.
MACRS Definition from Encyclopedia Dictionaries & Glossaries
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MACRS
The Modified Accelerated Cost Recovery System (MACRS) is the current method of accelerated asset depreciation required by the United States income tax code. Under MACRS, all assets are divided into classes which dictate the number of years over which an asset's cost will be recovered.
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