DEFINITION of 'Accelerated Cost Recovery System - ACRS'
A system of depreciation introduced by the Economic Recovery Tax Act of 1981. ACRS depreciation is based on recovery periods instead of useful life. These periods were predetermined by the IRS.
BREAKING DOWN 'Accelerated Cost Recovery System - ACRS'
The modified accelerated cost recovery system (MACRS) replaced ACRS for property placed into service after 1986.