What is Legal Terms Modified Accelerated Cost Recovery System (MACRS)?

Legal Terms Modified Accelerated Cost Recovery System (MACRS) — Modified Accelerated Cost Recovery System (MACRS) information: In Tax Law and in accounting matters, MACRS is a depreciation method, or system, in popular use since 1986, that allows businesses to write off, or depreciate non real estate property, faster than allowed by the straight line method of depreciation that was in previous use.