Occasionally, depreciation is claimed at a rate that is more rapid than allowed by the Modified Accelerated Cost Recovery System and once in a great while depreciation is claimed at a slower rate. IRS now provides guidance on how to handle the adjustments for income tax reporting purposes in both situations. While there are similarities, the two sets of procedures differ significantly.
"Adjusting For Depreciation Claimed in Error,"
Agricultural Law Digest: Vol. 8
, Article 1.
Available at: http://lib.dr.iastate.edu/aglawdigest/vol8/iss5/1