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As an American citizen living abroad, Meghan still has to pay taxes in the United States until she totally renounces her American citizenship and becomes a British subject. But for the next five years, it will take every penny spent, the tiara loan and the subsidized household bills will be scrupulously scrutinized by the very strict Internal Revenue Service of the United States. The financial pressure could cripple Harry's finances and the royal family in Britain and virtually wipe out Meghan's US $ 5 million fortune, advisers fear.
Even the finances of Prince Charles and the Queen could be scrutinized under US tax rules because they provide funds and support to the couple.
An assistant said, "We are looking at a level of financial risk that the royal family has never had to face before.This is the worst nightmare of the royal family."
Harry's main private fortune, a £ 20 million trust fund inherited from Princess Diana and the Queen Mother, generates an annual income of £ 300,000, on which Harry pays UK income tax .
But under US tax law, the fact that this income is "available" to Meghan could make him accountable for US tax.
Guidance notes for US citizens such as Meghan say: "You are generally taxed on the income you have, whether or not it is in your possession."
Strict regulation of the taxation of benefits in kind allows for details on jewelery, designer clothing and rental cars.
Even their house of grace and favor, Nottingham Cottage, located in Kensington Palace, will be examined.
Failure to do so could result in half the value of the asset being claimed.
The IRS may also request access to the accounts of the Duchy of Cornwall, the Prince of Wales, while Charles is funding the official office of his younger son.
Even the queen's accounts might not be protected because she allows the couple to live without rent and has priceless jewels worn by Meghan.
A former collaborator explained, "Everything must be declared." This means a level of fiscal openness and careful control that the royal family is not used to.There is a very comfortable relationship between the palace and the HMRC where the royal family pay a tax and the tax collector is very grateful. "
Even if Meghan has a credit card linked to Harry with a limit of just $ 10,000, the full account must be declared.
Meanwhile, Prince Harry has been elected the most modern man in Britain.
The future father, who married actress Meghan in May, garnered over a quarter of the vote, making it the nation's favorite.
Harry, former British captain David Beckham, 43, won the title in the poll marking the International Men's Day of Tomorrow.
The actor Idris Elba, 46, who many want to see play the next James Bond, was third.
And Sir David Attenborough was considered at the age of 92 as the 10th most modern man in Britain.
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