Doug Andre Interviewed by CNBC on Royal Baby Archie's Future Tax BillsPDF
CNBC interviewed IPB partner Doug Andre for an article entitled, "Royal baby Archie faces a complicated tax situation." Should the newest member of the Royal Family - a U.S. citizen by birth via his American mother, Meghan Markle - choose to retain his U.S. citizenship into adulthood, he will continue to face the lifelong American tax obligations that accompany it. The U.S. is one of only a handful of countries that taxes its ex-pat citizens on income earned internationally.
Maintaining compliance with IRS rules on foreign income can be both complicated and expensive. '"The value of [his] U.S. passport would have to be such that it's more valuable than the trouble it takes to remain compliant," said attorney Doug Andre, partner at Ivins, Phillips & Barker.'