The investigative flap over a charity ranch run by combative national radio host Don Imus is over. According to published reports, an official from the New York State Attorney General's charities office wrote to the gruff radio personality telling him that "no further inquiries concerning the Ranch are needed at this time," thus ending the probe launched by AG Eliot Spitzer. The 64-year-old Imus and his wife Deirdre, operate "The Imus Ranch" a 4,000-acre parcel in New Mexico for critically ill children. The ranch became the subject of an unflattering profile in the March 24 edition of The Wall Street Journal, which drew comparisons of the unusually high costs associated with the ranch -- $2.6 million per year for 100 children -- and compared them to other well-known charitable camps such as actor Paul Newman's "Hole in the Wall Gang." The piece detailed the Spitzer probe and questioned the Imus' personal use of the property without reimbursing the ranch. Spitzer's office said the inquiry was launched when the charity requested an extension to file tax data and that the AG's office had received an anonymous letter urging it to investigate Imus's use of the ranch. The cantankerous Imus, known for wearing his trademark 10-gallon hats on the air, labeled the WSJ reporter, Robert Frank, a "punk" and "dishonest," claiming that he (Frank) refused to come to the ranch and that he interviewed him (Imus) just one day before the article appeared. During his morning broadcast, Imus maintained that he never personally benefited from the ranch. "I'm not getting anything out of this other than having fun helping the children," he said. However, Paul Steiger, the Journal's long-time managing editor, said the article was fair and accurate and written by "one of our most experienced and capable reporters."
-
Reality bites; can buy you love; community mistrust; and other highlights of recent tax cases.
10h ago -
Accounting software provider FloQast announced that users can now craft their own AI agents through natural language prompts, alongside several new AI-based capacities for the platform.
10h ago -
Firms utilizing outsourcing, offshoring and other methods to expand their workforce share what works, and what needs to be reimagined.
September 18 -
Senate and House Democrats proposed a bill to ensure billionaires pay a "fair share" of taxes, without actually raising their tax rate under current law, while Republicans advanced legislation pertaining to the IRS and the U.S. Tax Court.
September 18 -
Tax management platform Instead is planning to offer completely free tax return preparation and filing for Forms 1040, 1041, 1120, 1120-S and 1065.
September 18 -
The Financial Accounting Standards Board posted an accounting standards update to improve the guidance on accounting for internal-use software costs.
September 18