Business and Personal Finance Dictionary

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• ACRS
  
  Tax shorthand (pronounced "acres") for Accelerated Cost Recovery System, a depreciation method used to figure the deductions allowed over the life of tangible property. ACRS property is divided into classes and each class has a predetermined time period over which it may be depreciated. ACRS generally is used for property placed in service after 1980 and by Dec. 31, 1986. Subsequent property must be depreciated under the Modified Accelerated Cost Recovery System (MACRS).
  
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