I think Imus has been well-intentioned in founding and running the ranch.
However, that doesn't mean he hasn't been sloppy. The article reports that he failed to file returns. Also, it sounds as if he should have reimbursed the ranch for family stays, and was unaware of the obligation.
I also don't buy his statement that he doesn't need the ranch for a vacation spot since he has a $30 million mansion in Connecticut. Obviously there are huge differences between the two locales. Do rich people in CT not go on vacation because they prefer to stay at home? Of course not.
I predict that Imus will make some big gesture to clear up any cloud over the operation, perhaps making a multi-million dollar donation out of his own pocket.
Maybe he could get Katie Curic to make a big donation. He always speaks kindly of her. /s
The article reports that he failed to file returns.