Processors, not ISOs, likely will handle many provisions of a law that takes effect next January requiring acquirers to report merchant credit and debit card transactions to the Internal Revenue Service, says Henry Helgeson, co-CEO of Merchant Warehouse Inc., a Boston-based ISO.

Merchant acquirers will have to report their retailers’ credit and debit card transactions to the IRS effective Jan. 1, 2011, under the Housing and Economic Recovery Act President George W. Bush signed into law in July 2008.

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