ACCELERATED COST RECOVERY SYSTEM
Accelerated Cost Recovery System. An accounting method that is used to calculate asset depreciation and that allows for the faster recovery of costs by assigning the asset a shorter useful life than was previously permitted under the Internal Revenue Code. ? This system applies to property put into service from 1981 to 1986. It was replaced in 1986 by the Modified Accelerated Cost Recovery System. ¡ª Abbr. ACRS. [Cases: Internal Revenue 3476. C.J.S. Internal Revenue ¡ì¡ì 230, 234, 239, 249.]
How would a bilingual lawyer translate the term ACCELERATED COST RECOVERY SYSTEM into Chinese?
LegalLingo, a Shanghai-based translation agency, is a recognized leader in comprehensive legal language solutions for the legal industry. We provide the world’s leading law firms and corporate legal teams with a full suite of services, ranging from the translation of contracts and compliance documentation to full-scale multilingual litigation requiring certified translation and Chinese document review. We deliver customized legal document translation solutions based on your case’s size and budget requirements, utilizing industry-leading technology to ensure accuracy, lower costs and faster turnaround times.