Dictionary definition: accelerated cost recovery system

Article: Macrs don't always require a useful life.(modified ...
Accounting Today;  December 11, 1995 ;     580 words ...The Tax Court has extended to modified accelerated cost recovery systems the principles of several recent court cases that permitted accelerated cost recovery systems depreciation of property for which the ...

Article: Depreciating MACRS property in tax-free exchanges.(modified ...
The Tax Adviser;  May 1, 2007 ;     700+ words ... ... exchange under Sec. 1031. The rules address how to determine annual depreciation allowances using the modified accelerated cost recovery system (MACRS) under Sec. 168 for replacement property acquired in a like-kind exchange. The guidance ...

Article: Section 179: the secret weapon of depreciation.(Modified ...
New Hampshire Business Review;  September 1, 2006 ;     700+ words ... ... which means small-business owners are generally required to write off equipment costs under the Modified Accelerated Cost Recovery System, or MACRS. Typically, it will take years using MACRS deductions to recoup the cost of business equipment ...

Article: Practical application of the new MACRS depreciation ...
The Tax Adviser;  June 1, 2004 ;     700+ words ... ... published temporary and proposed regulations (TD 9115; REG-106590-00) addressing depreciation of modified accelerated cost recovery system (MACRS) property acquired in a like-kind exchange under Sec. 1031 or as a result of a Sec. 1033 ...

Article: Failure to properly elect out of MACRS.(rental game ...
The Tax Adviser;  January 1, 2002 ;     700+ words ... ... held that a corporation failed to properly opt out of depreciating its rental game equipment under the modified accelerated cost recovery system (MACRS). NGS rents electronic gaming equipment. On its 1994 return, it reported depreciation on ...

Article: Is property reclassification under MACRS an accounting-method ...
The Tax Adviser;  March 1, 2002 ;     700+ words ...The Tax Court recently decided that a reclassification of properties under the modified accelerated cost recovery system (MACRS) was not an accounting-method change under Sec. 446, because it was excepted by regulation (Brookshire Bros ...

Article: District court disagrees on depreciation recovery period for ...
The Tax Adviser;  January 1, 2002 ;     700+ words ...In Saginaw Bay Pipeline Co., DC MI, 8/23/01, a district court held that an appropriate modified accelerated cost recovery system (MACRS) recovery period for a taxpayer's "gathering pipelines" is 15 years. Background Under asset ...