EFTA01788040.pdf

From: Eileen Alexanderson Sent: Monday, April 22, 2013 7:57 PM To: 'Jeffrey Epstein' Subject: split 5 memo issue In my=files I have an annual letter that says "Leon must report or contribut= the economic benefit of his Split-Dollar life insurance plans as income for inc=me tax purposes. This same amount represents the annual value of the gift for =ift tax purposes". With it comes a "reportable income and annual gi=t on a policy by policy basis which Tom has used as he prepares the annual gi=t tax return for Leon<=stl:place>. I checked with Ada=/stl:City> also. Elyse is referring to the requirement to evaluate split dollar life insurance plans as to the extent of the economic benefit that is considered taxable ordinary income to the employee. The taxable ordinary income to the employee is the premium cost of one-year term insurance on the life of the employee minus that portion of the premium paid by the employee. If the employee pays that portion of the premium that is in excess of the economic benefit, the employee incurs no ordinary income tax liability. The premium =ost of one-year term insurance at each age is listed in this PS 58 IRS table. <=r> Eileen Alexanderson Black Family Partners, L.P. go Apollo Management 9 W 57th Street New York This email and any files transmitted with it are confidential and intended solely for the person or entity to whom they are addressed and may contain confidential and/or privileged =material. Any review, retransmission, dissemination or =other use of, or taking of any action in reliance upon this information by persons or entities other than the intended =recipient is prohibited. If you have received this email in =error please contact the sender and delete the material from =any computer. Apollo Global Management, LLC =0 1 EFTA_R1_00112019 EFTA01788040