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The Merchant Category Code (MCC) 8211 is specifically assigned to businesses categorized as "Elementary and Secondary Schools." This code is used by payment processors and financial institutions to classify educational institutions, facilitating accurate reporting and analysis of transactions. By identifying schools with this MCC, businesses can ensure compliance with IRS regulations regarding 1099 reporting and potentially qualify for industry-specific interchange rates that may differ from typical rates. This classification is crucial for both financial reporting and optimizing payment processing costs for educational institutions.