5 Tax Considerations When Marrying A Foreign Prince
By Amy Lee Rosen (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...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!