ST. LOUIS (KMOV) -- With 2012 right around the corner, time is running out to take advantage of Internal Revenue Service deductions.
For those wondering about charitable deductions, the Better Business Bureau advises those making donations to take a few easy precautions to make sure an organization receiving the donation is legitimate.
A BBB spokesperson says toward the end of the year organizations with names similar to more well-known organizations may solicit donations, so those looking to give should verify the exact title of the organization. For example, imposter organizations may change a word from foundations to fund, completely changing the legitimacy of an organization.
Other warning signs to look for include organizations looking for cash as opposed to check.
In order to assure an organization is a legitimate charity and is in compliance with IRS regulations, go on the Internal Revenue Service’s website. Also visit the Missouri Attorney General’s website which also has information on charities, including what percentage of their money actually goes toward programs.
About 4,000 Missouri charities had their tax exempt status revoked in just the last few months for not filing the right paperwork.