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Posted to alt.politics.scorched-earth,alt.home.repair,uk.legal,uk.politics.misc,alt.politics.uk
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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. |
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