Every year right before Christmas many auto accident victims seem to want to settle their claims. Whether it’s the need for funds during the holidays or the desire to put unpleasant things behind them before the start of a new year, injury victims often ask their attorneys to find a way to settle their claims in December. It’s also the time of year people are more likely to give to charity. In fact, over 50% of all charitable giving occurs between Thanksgiving and Christmas. Accident victims are no exception. Many who have their claims resolved in December find themselves suddenly capable of making substantial charitable donations. When they do, they need to be careful on two counts. First, they need to make sure the charity is a reputable organization. One place to check is with the Better Business Bureau. Another is at www.charitynavigator.org. Second, they need to make sure the charity is recognized by the IRS in order to receive favorable tax treatment. To check on the tax consequences, a call to their accountant is in order or they can navigate to www.irs.gov.
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