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IRS audit red flags that retirees on fixed income should know about

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Common tax mistakes that cost taxpayers more money during filing season

American retirees may be done with their working careers, but they may still face the scrutiny of an IRS audit if their tax return raises red flags.

Data from the IRS shows the tax collection and enforcement agency has conducted audits on fewer than 1% of individual tax returns in recent years. 

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In the tax years from 2014 through 2022, the IRS reported that it examined 0.4% of all individual tax returns filed – though that figure rises to 7.9% of taxpayers who filed returns with income of $10 million or more.

Retirees generally have simpler tax returns that may not involve the kinds of tax credits that may warrant additional scrutiny, and while it’s unclear from the agency’s data how often the IRS audits retired Americans, there are some things that can attract the attention of auditors.

AVERAGE TAX REFUND UP NEARLY 11% FROM A YEAR AGO, IRS DATA SHOWS

The IRS logo on namecards

The IRS audits less than 1% of returns a year, but some returns can trigger red flags that spur scrutiny. (Jordan Vonderhaar/Bloomberg via Getty Images)

High-income taxpayers are more likely to face IRS audits, so while retirees may not be earning income from work, they may face an audit if they have relatively high income from investments and capital gains or from retirement plan distributions.

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The IRS in recent years has signaled that it won’t raise audit rates on taxpayers earning under $400,000 while it aims to focus enforcement on higher-income taxpayers.

Retirees who neglect to report all of their taxable income may also face IRS scrutiny. It’s important for taxpayers to submit copies of all tax documents they receive, including 1099s that may cover retirement income, interest income and Social Security benefits as well as a W-2 for any work they did as an employee.

IRS REFUND TRACKER EXPLAINED: WHAT YOU NEED TO KNOW BEFORE THIS YEAR’S TAX FILING DEADLINE

An Older couple discussing forms with an overlay of Retirement plan documents

Retirees can face penalties if they fail to take the required minimum distributions (RMDs) from retirement plans on time. (Istock)

report by Kiplinger notes that retirees who gamble must also report their winnings and losses, though the process is different for recreational and professional gamblers. Failing to disclose those, or only attempting to write off losses while not reporting winnings, can prompt additional scrutiny.

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Taxpayers who are receiving income from retirement plans like traditional IRAs and 401(k) plans should be aware of the need to receive and report any required minimum distributions (RMDs) for those plans. 

Currently, retirees face RMDs when they turn 73 and failing to take those withdrawals can trigger a penalty in the form of a 25% excise tax on the amount that wasn’t distributed as required.

IRS WARNS AMERICANS TO BEWARE OF DANGEROUS NEW SCAMS THIS TAX SEASON

401k pension stock market

High levels of income from investments or retirement plans can prompt IRS scrutiny. (Angela Weiss/AFP for Getty Images)

Retirees who are still working part-time or own a business need to ensure they’re accurately reporting that income or any deductions they’re claiming, as those could prompt the scrutiny of the IRS. Those who claim business loss deductions for a small business or side gig could have the IRS deem the activity a “hobby” and disallow those deductions.

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Reporting large charitable contributions can also trigger a review by the IRS, particularly if the taxpayer’s reported donations represent a large portion of their income or include relatively valuable non-cash gifts to a charitable organization.

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The IRS has also placed an emphasis on international tax compliance, so taxpayers who have foreign bank accounts or income from overseas should ensure they report those on their tax return to avoid a higher risk of an audit or penalties.

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(VIDEO) Berks County Police Officer Kristen Yeager Killed in Crash While Assisting Neighboring Department

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Officer Kristen Yeager

A two-and-a-half-year veteran of the Central Berks Police Department died Friday night when her patrol car crashed while responding to an emergency assist request from a neighboring law enforcement agency, authorities said Saturday.

Officer Kristen Yeager, responding near the intersection of Manatawny and Shoemaker Roads in Earl Township, was pronounced dead at the scene. The crash occurred just before 8 p.m. as she traveled to support another department’s call, officials confirmed.

Pennsylvania State Police are investigating the incident. No details have been released on the cause of the crash or whether other vehicles were involved. West Philadelphia Avenue and surrounding roads were closed for approximately four hours as emergency crews worked the scene.

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EMS units from Oley, Boyertown and Earl Township responded to the crash. The Earl Township Fire Company later thanked mutual aid agencies and first responders for their assistance. The roadway reopened to traffic shortly after midnight.

Central Berks Police described Yeager as a dedicated officer who “served the citizens of our community with courage, compassion, and unwavering dedication.” The department noted that throughout her career, she “exemplified the highest standards of law enforcement, selflessly answering the call to protect and serve while placing the safety and well-being of others above her own.”

Community impact and department response

The loss has shaken the small department and the broader Berks County community. Yeager leaves behind her husband and three children. In the immediate aftermath, colleagues organized a meal train to support department members affected by the tragedy. Donations can be dropped off at the Central Berks Police station lobby Monday through Friday between 8 a.m. and 4 p.m.

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Local leaders expressed condolences. Berks County officials and neighboring police departments offered support to the Central Berks team as they navigate the difficult period. The incident highlights the inherent risks faced by law enforcement officers, even during routine assistance calls.

Central Berks Police serves multiple municipalities in the region, covering a mix of rural and suburban areas north of Reading. With a relatively small force, officers frequently rely on mutual aid from neighboring departments for emergency responses, a common practice across Pennsylvania.

Officer background and service

Yeager joined the department about two and a half years ago. Colleagues remembered her as a committed public servant who approached her duties with professionalism and care. The department’s public statement emphasized her focus on community-oriented policing and her willingness to support fellow officers.

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Pennsylvania law enforcement agencies have faced increased scrutiny and challenges in recent years, including staffing shortages and rising calls for service. Traffic-related incidents remain one of the leading causes of officer fatalities nationwide, according to data from the Officer Down Memorial Page and the FBI.

In 2025, several Pennsylvania officers died in vehicle-related incidents while on duty, prompting renewed discussions about vehicle safety, pursuit policies and wellness programs within departments.

Broader context of police line-of-duty deaths

Nationwide, line-of-duty deaths continue to affect law enforcement families. The crash involving Yeager adds to this year’s toll. Organizations such as Concerns of Police Survivors (C.O.P.S.) provide resources for families of fallen officers, offering grief support and programs for surviving children and spouses.

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Local memorials are expected in the coming days. The Pennsylvania Chiefs of Police Association and other groups often coordinate tributes when an officer falls in the line of duty. A procession and funeral arrangements have not yet been publicly detailed as the family and department focus on immediate needs.

Earl Township, where the crash occurred, is a small community known for its agricultural roots and proximity to larger population centers. Residents expressed shock at the news, with some taking to social media to offer prayers for Yeager’s family and colleagues.

Safety on Pennsylvania roads

The stretch of road near Manatawny and Shoemaker has seen previous incidents, though officials have not linked prior crashes to Friday’s event. Pennsylvania State Police regularly investigate fatal collisions in rural areas where speed, weather and visibility can play significant roles.

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State transportation officials continue efforts to improve road safety through signage, lighting and enforcement. However, emergency response driving presents unique challenges, including the need for speed balanced against public safety.

The investigation by Pennsylvania State Police will examine factors such as vehicle condition, road conditions, weather at the time, and any potential mechanical issues. Results typically take weeks to finalize.

Community support initiatives

The meal train organized by Central Berks Police reflects a common practice in tight-knit law enforcement communities. Such efforts provide practical help during times of grief and allow officers to focus on their duties and supporting one another.

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Donations of prepared meals or gift cards are being accepted at the station during business hours. Similar initiatives have helped families of fallen officers in past Pennsylvania incidents.

Local businesses and residents have also begun offering support. Churches in the area planned prayer services, while community groups discussed ways to honor Yeager’s service.

Looking ahead

As the investigation proceeds, Central Berks Police Department will continue operations with reduced staffing in the short term. Neighboring agencies have offered additional coverage to ensure public safety is maintained.

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The department has asked for privacy for Yeager’s family as they grieve. No public funeral details have been released, though a memorial service is expected in the coming weeks.

This tragedy serves as a sobering reminder of the daily risks taken by men and women in uniform. Across the United States, police departments emphasize officer safety training, mental health resources and equipment upgrades to reduce such incidents.

Yeager’s death comes at a time when many communities are working to strengthen police-community relations. Her commitment to service, as highlighted by her department, exemplifies the dedication many officers bring to their roles despite the inherent dangers.

Friends, colleagues and residents continue to share messages of support online. The Berks County region, known for its strong sense of community, is expected to rally around the family in the days and weeks ahead.

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Authorities urge anyone with information about the crash to contact Pennsylvania State Police. The full circumstances surrounding the incident may take time to emerge as the investigation unfolds.

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The Clorox Company: Investors Are Not Happy, More Pain Ahead (NYSE:CLX)

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The Clorox Company: Investors Are Not Happy, More Pain Ahead (NYSE:CLX)

This article was written by

MSc in Finance. Long-term horizon investor mostly with 2-5 year horizon. I like to keep investing simple. I believe a portfolio should consist of a mix of growth, value, and dividend-paying stocks but usually end up looking for value more than anything. I also sell options from time to time.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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(VIDEO) San Antonio Man Arrested for Terroristic Threats Against Erika Kirk Before Turning Point USA Summit

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Erika Kirk

A 26-year-old San Antonio man faces felony charges after authorities say he made online threats to bomb a Turning Point USA event and kill its CEO Erika Kirk, prompting an arrest days before the conservative organization’s Women’s Leadership Summit.

Jacob Wenske was taken into custody early Thursday on two counts of making a terroristic threat causing public fear of serious bodily injury, a third-degree felony. Each charge carries a potential penalty of up to 10 years in prison. He remained in custody with a $120,000 bond as of late May.

According to court documents obtained by local investigators, Wenske allegedly posted threats in response to a public social media announcement about the upcoming summit. One comment reportedly stated, “I know exactly where to bomb.”

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An email account linked to Wenske also sent a message to Turning Point USA stating, “Death to Erika Kirk and every single speaker there!!” according to the arrest affidavit. Additional posts referenced acting as a “valet for her escort” and driving “Charlie Kirk’s scum wife straight to the grave.”

Background on the targeted event

The Turning Point USA Women’s Leadership Summit is scheduled for June 5-7 at the Marriott Rivercenter on the San Antonio River Walk. Kirk, 37, widow of the late conservative activist Charlie Kirk, is set to appear as a featured speaker. The organization has not commented publicly on security adjustments but has indicated it takes such threats seriously.

San Antonio Police Department officers arrested Wenske following an investigation that traced the online activity. The threats surfaced in April and January, prompting coordination between local law enforcement and event organizers.

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No explosives or weapons were reported in connection with Wenske, and authorities have not indicated any active plot beyond the alleged online statements. The case highlights growing concerns over political violence and online rhetoric targeting public figures.

Context surrounding Erika Kirk

Erika Kirk assumed a prominent role at Turning Point USA following the 2025 assassination of her husband, Charlie Kirk, founder of the conservative youth organization. She has continued advocating for the group’s mission of promoting conservative values on college campuses and among young Americans.

The threats come amid heightened national sensitivity to political violence. Law enforcement agencies across the country have reported increased threats against public officials and event organizers in recent years, particularly those tied to partisan gatherings.

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Turning Point USA events often draw large crowds and significant media attention. The San Antonio summit is expected to feature multiple conservative speakers and workshops focused on leadership development.

Legal proceedings and investigation

Wenske faces charges under Texas law for terroristic threats, which apply when statements are deemed to create public fear of serious bodily injury or disruption. Prosecutors in Bexar County will handle the case. Court records show standard processing following the arrest.

Investigators examined social media posts, email records and other digital evidence. The rapid response underscores improved monitoring of online threats ahead of major public events.

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No additional suspects have been identified. Authorities encourage anyone with relevant information to contact the San Antonio Police Department.

Broader implications for event security

The incident reflects challenges in securing large-scale political and ideological gatherings. Organizers of similar events nationwide increasingly rely on private security, K-9 units and coordination with local law enforcement to mitigate risks.

Free speech advocates note the fine line between protected expression and actionable threats, while security experts emphasize proactive monitoring of digital platforms. Federal agencies sometimes assist in high-profile cases involving potential interstate elements, though this matter has remained at the local level so far.

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San Antonio, a major convention city, hosts numerous large events annually. The River Walk area, where the Marriott Rivercenter is located, typically sees heavy tourist and business traffic, making threat assessments more complex.

Community and organizational response

Turning Point USA has a history of facing protests and occasional disruptions at its events. The organization has previously emphasized resilience in the face of opposition. Kirk herself has spoken publicly about continuing her late husband’s work despite personal challenges.

Local conservative groups in San Antonio expressed concern over the threats, while city officials reiterated commitment to protecting free assembly and speech. No formal statements from Kirk were available as of Friday.

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The case has drawn national media coverage, appearing on outlets including Fox News and local Texas stations. Discussions have focused on the rise of doxxing and targeted online harassment against political figures.

Looking ahead

The summit is expected to proceed as planned with enhanced security measures. Organizers typically implement bag checks, credentialing and surveillance for such gatherings. Attendees are advised to follow any updated protocols.

Legal experts following the case suggest it may hinge on proving the statements were true threats rather than protected hyperbole — a determination often made based on context, specificity and the speaker’s intent. Similar prosecutions have succeeded when evidence shows targeted individuals or locations.

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This arrest serves as a reminder of the tensions in America’s polarized political climate. As major events continue throughout 2026, authorities and organizers remain vigilant against both online incitement and real-world risks.

Wenske is presumed innocent until proven guilty in a court of law. His next court appearance has not been publicly detailed in initial filings.

Anyone with information related to the case is asked to contact San Antonio police. The investigation remains active as prosecutors build their case.

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The Problem With GDXY Isn’t The Yield (NYSEARCA:GDXY)

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golden bar graph with with trading graph, gold trading.

This article was written by

I am a stock analyst with over 20 years of experience in quantitative research, financial modeling, and risk management. My focus is on equity valuation, market trends, and portfolio optimization to uncover high-growth investment opportunities. As a former Vice President at Barclays, I led teams in model validation, stress testing, and regulatory finance, developing a deep expertise in both fundamental and technical analysis. Alongside my research partner (also my wife), I co-author investment research, combining our complementary strengths to deliver high-quality, data-driven insights. Our approach blends rigorous risk management with a long-term perspective on value creation. We have a particular interest in macroeconomic trends, corporate earnings, and financial statement analysis, aiming to provide actionable ideas for investors seeking to outperform the market.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Luka Doncic Donnie Nelson Buy Italian Club Vanoli Cremona for NBA Europe Rome Bid

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Luka Dončić

Los Angeles Lakers star Luka Dončić has joined a group led by former Dallas Mavericks executive Donnie Nelson to purchase Italian club Vanoli Cremona, with plans to relocate the team to Rome and position it as a candidate for the NBA’s proposed European league.

The transaction, announced Friday, marks a significant step in Dončić’s post-playing ambitions and Nelson’s continued involvement in basketball development. The group intends to move the club from the northern Italian city of Cremona to the Italian capital ahead of the 2026-27 season in Lega Basket Serie A.

Nelson, who served as Mavericks president of basketball operations when Dallas drafted Dončić in 2018, acts as lead investor and managing partner. The ownership group also includes longtime Italian coach Valerio Bianchini and former player Rimantas Kaukėnas.

Strategic relocation to Rome

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Cremona, known for its violin-making tradition, currently hosts the team. The relocation to Rome aims to tap into a larger market with stronger infrastructure and fan potential. Rome has lacked a top-tier professional basketball club since Virtus Roma’s struggles in recent years.

The new owners have already submitted a bid for the franchise to serve as Rome’s representative in NBA Europe, the league expected to launch as early as 2027. NBA officials have discussed a 16-team competition in partnership with FIBA to expand the game’s global footprint.

Dončić expressed enthusiasm for the project. He has “dreamed about owning a team in Europe for a long time” and believes “we can do something special for basketball in Italy and Europe.”

The Slovenian superstar, who rose through European ranks with Real Madrid before joining the NBA, sees the move as a way to give back to the continent that shaped his career.

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Background and partnership

Nelson played a pivotal role in bringing Dončić to the Mavericks. The pair’s longstanding relationship formed the foundation for this business venture. Reports of their interest in an Italian club first surfaced in February.

The acquisition comes as Dončić, now with the Lakers, continues his NBA career at an elite level. Ownership in a European club does not currently violate NBA rules regarding future league participation, though final NBA Europe structures remain under discussion.

Nelson, son of Hall of Fame coach Don Nelson, brings decades of NBA front-office experience. His vision focuses on building sustainable professional basketball in major European cities.

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NBA Europe context

The NBA has signaled strong interest in formalizing a European presence. Discussions include potential integration with existing competitions like EuroLeague while creating a new tier featuring NBA-affiliated teams. Cities such as Rome represent attractive markets due to population size, cultural significance and untapped commercial opportunities.

Rome’s PalaEur arena has been mentioned as a potential venue. The city last hosted consistent top-level basketball years ago, creating demand for a competitive franchise.

Analysts view the Dončić-Nelson bid as strategically timed. A successful entry could provide a blueprint for player-driven ownership in emerging leagues and strengthen ties between the NBA and European basketball ecosystems.

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Impact on Italian basketball

The move ends Vanoli Cremona’s presence in its current location but promises elevated competition in Rome. Italian league officials have welcomed investment that raises the profile of Serie A.

Local fans in Cremona expressed mixed reactions, with some disappointed by the departure while others recognize the broader benefits for Italian basketball. The club has competed in the top division but faced challenges in sustaining long-term success.

Bianchini and Kaukėnas bring deep local expertise. Bianchini is a respected coach with multiple titles, while Kaukėnas enjoyed a successful playing career in Italy and Lithuania. Their involvement ensures continuity and cultural understanding.

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Financial and operational outlook

Specific purchase terms were not disclosed. European club valuations vary based on league status, arena rights and commercial potential. Rome’s larger market could significantly increase the franchise’s value if it secures an NBA Europe spot.

The group plans immediate preparations for the 2026-27 season in Rome, including roster planning, marketing and infrastructure upgrades. Success in Serie A could strengthen their NBA Europe application.

Dončić’s star power is expected to boost visibility. His global following could attract sponsorships and international attention to the new Roman club.

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Broader implications for player ownership

Dončić becomes one of the first active NBA players to pursue ownership in a professional team outside the United States. This development raises questions about future regulations as the NBA expands globally.

League officials have indicated flexibility during the planning phase for NBA Europe. The initiative aims to grow the sport while protecting the integrity of the NBA’s flagship competition.

For Dončić, the project aligns with his European roots. Born in Slovenia, he developed his game in Spain and maintains strong ties across the continent. The investment represents a long-term commitment beyond his playing days.

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Next steps and timeline

The relocated team will begin play in Rome for the 2026-27 Italian season. NBA Europe’s launch target of 2027 provides a clear horizon for the bid’s evaluation. Multiple groups are reportedly competing for various European markets.

Nelson emphasized the opportunity. “Rome deserves world-class basketball, and we are excited to be bringing it back,” he said in a statement.

Dončić posted on social media celebrating the news: “Basketball is coming back to Rome.”

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The venture has drawn positive reactions from basketball executives on both sides of the Atlantic. It could accelerate development in markets hungry for high-level competition and create pathways for European talent to reach the NBA.

As details emerge in coming weeks, attention will focus on roster construction, coaching staff and arena arrangements. The collaboration between a current NBA superstar and a veteran executive signals serious intent to elevate basketball in Italy and beyond.

This initiative underscores the growing convergence of American and European basketball. With Dončić’s involvement, the new Roman club carries both sporting ambition and cultural significance for fans across the continent.

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Exelixis presents Cabometyx data for neuroendocrine tumors

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Exelixis presents Cabometyx data for neuroendocrine tumors

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Broadcom, Hewlett Packard Headline Earnings Next Week

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Get ahead of the market by subscribing to Seeking Alpha’s Wall Street Week Ahead, a preview of key events scheduled for the coming week. The newsletter keeps you informed of the biggest stories set to make headlines, including upcoming IPOs, investor days, earnings reports, and conference presentations.

The stock market opened higher as traders kept a close watch on any updates related to the U.S.-Iran conflict amid reports of fresh strikes. The U.S. and Iran have reportedly reached a deal; however, President Donald Trump will have to give the final approval. Reports suggested that Iran had launched missiles. The wholesale inventories’ growth slowed less than expected in April, while retail growth came in line.

Major economic data are scheduled for the coming week. S&P Global and ISM Manufacturing PMI data are scheduled for Monday. JOLTS job opening data is due on Tuesday. On Wednesday, data including S&P Global services and composite PMI and ISM non-manufacturing PMI will be released. Initial jobless claims will be out on Thursday, while nonfarm payrolls and the unemployment rate will be released on Friday.

_______________________________________________________________

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Earnings spotlight: Monday: Hewlett Packard (HPE) and Credo Technology (CRDO). See the full earnings calendar.

Earnings spotlight: Tuesday: Palo Alto Networks (PANW) and Ulta Beauty (ULTA). See the full earnings calendar.

Earnings spotlight: Wednesday: Broadcom (AVGO), CrowdStrike (CRWD), and Medtronic (MDT). See the full earnings calendar.

Earnings spotlight: Thursday: Ciena Corp. (CIEN), lululemon (LULU), and DocuSign (DOCU). See the full earnings calendar.

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Volatility watch: Netflix (NFLX) and Globalstar (GSAT) have seen options volatility increase over the last week. The most overbought stocks per their 14-day relative strength index include Momentus (MNTS), Hyliion (HYLN), and Redwire (RDW). The most oversold stocks per their 14-day Relative Strength Index include Verra Mobility (

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First Windows PC powered by Nvidia chips to debut next week, Axios reports

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First Windows PC powered by Nvidia chips to debut next week, Axios reports

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Colombia accuses Ecuador of “deliberate interference” in presidential election amid tariff spat

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Colombia accuses Ecuador of “deliberate interference” in presidential election amid tariff spat


Colombia accuses Ecuador of “deliberate interference” in presidential election amid tariff spat

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Zscaler: Why I'm Not Buying The Dip

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Zscaler: Why I'm Not Buying The Dip

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