Prince Harry needs to deal with his US immigration status before "the clock runs out", an expert has warned.
On Friday it was exactly one year to the day since Meghan Markle and Prince Harry announced their bombshell decision to leave the Royal Family.
The couple announced on January 8 last year that they would step back from senior positions within the Firm following talks at Sandringham between Harry, Prince Charles, Prince William and the Queen.
Meghan and Harry have since relocated with their son Archie Harrison to California, having spent the intervening period living in Canada, in hopes of a more private lifestyle.
As a British diplomat, Prince Harry could enter the United States on an A-1 visa but, with the abdication of his royal duties, this will no longer be a viable option, especially if he plans to work and reside in the US permanently.
And so following their move stateside Prince Harry will need to address his immigration status – and he may need to do so sooner rather than later.
David Lesperance, who advises wealthy individuals including some in Silicon Valley, told Sky News that Prince Harry will need to look into the issue within the next nine months.
He said: "There has been some relief given by the IRS for people who are effectively trapped in the US (because of Covid-19), but it is something that I'm sure, I hope that he and his advisers have been turning their mind to over this past year, and certainly something that he needs to deal with before the clock kind of runs out, which will be later this summer."
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Last year, top LA tax lawyer, David Holtz, claimed Harry could face a huge tax bill if he reached 183 days in the US.
Mr Holtz said: “You can safely assume that someone at the Internal Revenue Service (IRS) is looking very closely at him.
“This is a big deal.”
The expert claimed Harry faced paying both US federal and Californian state taxes under “substantial presence test”.
Mr Holtz said: “If Harry’s been in the US for 183 days straight then he’s done.
“But it is safe to assume they have had lawyers and tax experts grinding away on this issue for months.”
This requires any foreigner who spends 183 days in the country during a three-year period to pay US taxes on worldwide earnings.
Another tax expert said: “Harry’s bill could be monumental and could open up a can of worms for the Royal Family because the IRS will want to know all his sources of income.
“That’s not just his Netflix deal, but any monies he might have received in gifts from Prince Charles and any trust funds, savings accounts or other assets he has in the UK.
“That means the Royal books will be open to scrutiny.
“The US taxman is far more zealous than his UK counterpart.”
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