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When will merchants be ready to meet the IRS IIAS requirements?

April 26, 2017iias IRS meet Merchants ready requirements

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When will merchants be ready to meet the IRS IIAS requirements?

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MasterCard and Visa have published technical requirements in support of the standard published by the Special Interest Group for IIAS Standards. As a result, in October 2007, FSA/HRA card issuers and processors were able to support the processing of real-time or automatic substantiation of the amount of eligible medical expenses in a cardholder’s purchase. A current list of retailers who have implemented or plan to implement an IIAS using the standard developed by SIGIS is available at www.sig-is.