Marriage

Royal Marriage & U.S. Taxes

Royal Marriage & U.S. Taxes

As American actress Meghan Markle prepares to wed Britain's Prince Harry, most people will not focus on the tax problems complex U.S. tax laws inevitably seem to bring. Early in their engagement, Buckingham Palace announced that Markle will become a British citizen after marriage. Unless she renounces her American citizenship, she must continue to file U.S. tax returns, plus FBARs, every year, reporting her worldwide income, and disclosing her assets. Even if the couple try to keep their assets separate, disclosing assets may be a particular worry.