Economic Recovery Tax Act

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Definitions
Accelerated Cost Recovery System (ACRS)
Accelerated Cost Recovery System ACRS Depreciation Economic Recovery Tax Act Tax Incentives Capital Assets Taxable Income
The Accelerated Cost Recovery System (ACRS) is a depreciation method introduced by the Economic Recovery Tax Act of 1981 that allows taxpayers to recover the cost of an asset over a specified life that is shorter than the actual useful life of the asset, thereby reducing taxable income in the earlier years of an asset's life.
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