Sometimes importing WordPress media files throws an error related to the .htaccess or php.ini files. The most common issue has to do with file size or memory limits. Here is the fix that worked for me.
Added these lines to my .htaccess file in the webroot directory

<ifModule mod_php4.c>
php_value upload_max_filesize 50M
php_value post_max_size 50M
php_value max_execution_time 500
php_value max_input_time 500