Meghan Markle's IRS tax review may expose royal family's riches
 

On Tue, 20 Nov 2018 08:42:43 -0500, "BurfordTJustice"
wrote:

Now that Prince Harry and Duchess of Sussex Meghan Markle are wed, the
British royal family faces a number of financial challenges as U.S. tax
season approaches.

As long as Markle is an American citizen, her assets and income are subject
to U.S. taxation. If she is raking in more than $300,000 - which is likely
considering her career as a successful television actress - she will be
required to file a specific form that details her foreign assets and could
therefore expose her new in-laws to financial scrutiny.

"The bigger issue is what will she be getting from the royal family?"
Rebecca Walser, a tax attorney and certified financial planner, told FOX
Business. "If it's any kind of income or [stake in a trust] . it will have
to be disclosed and reported [to the IRS.]"

All of Markle's foreign assets are likely to be subject to scrutiny by the
U.S. tax agency, which may pose a problem for the British royal family - who
have managed to keep details of their financial situation quiet.

Further, if Markle combined bank accounts with her husband, or became a
signatory, those accounts would have to be reported and disclosures made,
Walser said. That would bring Prince Harry's financial details within the
IRS' reach.

If you colonials start getting uppity again, we'll just have to send a
gunboat.