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The Foreign Account Tax Compliance Act (FATCA), enacted in 2010, is to take effect next July. It will require foreign financial institutions to tell the U.S. Internal Revenue Service about Americans' offshore accounts worth more than $50,000.
He added: "We were concerned that witnesses disagreed about the nature of demand for urgent and emergency care. The system is 'flying blind' without adequate information about the nature of the demand being placed upon it."
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