Overview

• In a July 31 letter, Senator Ron Wyden urged the IRS to investigate “suspicious transactions” tied to Jeffrey Epstein’s tax work for Leon Black and to provide information by September 1.
• Wyden alleges Black paid Epstein $158 million from 2012 to 2017, including about $100 million without written contracts or service agreements.
• A spokesperson for Black cites an independent Dechert review that found no wrongdoing, said the fees were legitimate planning services, and that Black had no awareness of Epstein’s crimes.
• President Trump removed IRS Commissioner Billy Long on August 8 and named Scott Bessent as his replacement, raising questions about continuity of oversight.
• Black, a MoMA trustee and Apollo cofounder, previously paid $62.5 million to resolve potential legal actions related to Epstein in the U.S. Virgin Islands.