5 Tax Considerations When Marrying A Foreign Prince
Law360, Los Angeles (May 25, 2018, 7:52 PM EDT) -- After tying the knot with Prince Harry, the Duchess of Sussex must remain aware of future tax liabilities, since as a U.S. citizen she is still required to share certain information about taxable income, foreign bank accounts and wedding gifts with the Internal Revenue Service to avoid potentially steep fines.
The American actress Meghan Markle married Prince Harry at Windsor Castle on May 19, but her tax obligations to the U.S. will continue unless she renounces her U.S. citizenship, which has separate tax consequences associated with it.
Here, Law360 explores some of the tax obligations the Duchess of Sussex should consider...
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