The article has been automatically translated into English by Google Translate from Russian and has not been edited.

A child Megan Markle can become a citizen of the United States and pay American taxes all his life

'01.04.2019'

Source: Fox Business

Meghan Markle and Prince Harry will become the parents of their first child, most likely in the coming weeks - it was previously reported that the expected date of birth is scheduled for April. Megan's child can receive dual citizenship: in addition to British, the couple's son or daughter will be eligible for American, since Markle is still a US citizen. In this case, he will be obliged to pay taxes to America, even while living in the UK.

Megan said she was going to take British citizenship, but did not say whether she plans to give up her American one, writes Fox Business.

According to the laws of the United States, a child born of a citizen of a country and a foreigner is considered a citizen of the United States if he was born after 14 November 1986, and his American parent was physically present in the USA at least 5 years before the child was born, of which at least 2 must be at least 14 years old.

This means that child Megan and Harry may have dual citizenship if parents want to register his birth with the American consulate. This gives him not only rights, but also duties. As soon as the child reaches the age of majority, he or she is likely to have assets and income, which will be required to pay taxes in the United States.

But they can demand the fulfillment of tax obligations earlier. According to The Wall Street Journal, if a child has “unearned income” in excess of $ 2200 per year before the age of majority, he is subject to the so-called “Kiddie Tax”. Accounts owned by a child with assets greater than $ 10000 must be reported to the U.S. tax authorities.

The United States is the only country that requires its citizens to pay taxes regardless of which country in the world they live in. Including if they have lived abroad all their lives.

According to insiders, Megan is now in a rather difficult tax situation at home. If she has more than $ 300 in accounts - which is quite possible given her successful acting career - she needs to submit a special form detailing her UK assets. Which, in turn, would put her family at risk of financial scrutiny. If Markle merges bank accounts with her husband, these accounts will need to be reported to the US tax authorities - which means that the financial details of Prince Harry's life will be available to the IRS. Until now, the British royal family has managed to keep such information secret.

Everything will be different if Markle decides to renounce her US citizenship - this is a long process that is very difficult to interrupt if she suddenly changes her mind. It will probably take several years before Meghan gets British citizenship - and this needs to be done before giving up the American one.

Baby Megan and Harry will be born in April. He will be the seventh in line for the British throne.

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