The Modified Accelerated Cost Recovery System (MACRS) is the current tax depreciation system in the United States. Under this system, the capitalized cost (basis) of tangible property is recovered over a specified life by annual deductions for depreciation. The lives are specified broadly in the Internal Revenue Code. The Internal Revenue Service ...
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http://en.wikipedia.org/wiki/MACRS
Short for modified accelerated cost recovery system. A method of depreciation, established by the Internal Revenue Code, for rapidly claiming depreciation tax deductions.
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http://www.nolo.com/dictionary/macrs-term.html
The modified accelerated cost recovery system, often abbreviated as MACRS, is a depreciation system created by the IRS that recognized more depreciation expense in early years and less expense in later years. MACRS is required for US federal taxation purposes unless other approved systems are appropriate.
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https://www.myaccountingcourse.com/accounting-dictionary/accounting-diction
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