If there is one group of officials who may not be entirely thrilled by the birth of Meghan and Harry’s child, it’s their accountants. For this royal baby will be a dual citizen, able to wave the red, white and blue of the Stars and Stripes as well as the Union Jack. Of that, there is no doubt. “The child is born an American,” states Joe Kirkwood, an immigration lawyer in San Diego, Calif. “This is not elective; the baby is a citizen by birth, by law.
Meghan and her child are the first American royals in the House of Windsor since the most infamous American royal of all, the twice-divorced Wallis Simpson, for whom King Edward VIII created a constitutional crisis in 1936 by abdicating the throne to marry her. And Meghan’s American legal status could allow the U.S. government to delve deep in royal accounts and trusts for years and years to come.
The same tax-filing rules will apply to Meghan and Harry’s child. And taxes can kick in at very low amounts. “If your child’s interest, dividends, and other unearned income total more than $2,100, it may be subject to tax,” the IRS states. Given how many teddy bears, strollers and baby outfits the couple has already received, it’s a good bet that their accountants have some tax filings to prepare.
Because most of the palaces and castles, as well as treasures, belong to the Crown, not the Queen personally, the Sunday Times estimates the Queen’s personal wealth at a relatively modest $485 million. In addition to private estates, such Balmoral and Sandringham, which are passed from monarch to monarch without tax penalties, the Queen and Prince Charles benefit from ancient estates that throw off sizable profits.
Will someone please start a Go Fund Me page for this poor child
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