If we assume this is not a scam, and you have known this person all your life and would trust them to babysit your kids, then:
The fact of the wire transfers will be reported to the IRS because they are more than $10,000. This is routine and nothing to be worried about. Nothing gets reported on your tax return. If the IRS asks questions, keep proof of what happened, that it was always your friend's money, not a gift or loan, and you were acting as an agent.
The only thing that would be taxable to you is if the money earned interest while it was sitting in your account in between the 2 transfers.
I do agree with the suggestion that you use extreme caution. I also agree that it would be preferable for your friend to open an account with a bank that operates in their country and the US. Citibank and HSBC are two possibilities, there may be others. If your friends contacts the US Consulate office closest to them, the Consul's office should have some banking suggestions.
