Alabama Bank News

Acquisitions and ACA Reporting

Health Care Alert, HR News

Apologies. This is perhaps the most indistinct Alert of the past 5 years, yet the issue is arising occasionally and thus warrants addressing. The issue is how mergers and acquisitions affect ACA reporting. The answer is: we don’t really know! IRS has not told ...Read More

Expanded Small Business Definition in 2016

Health Care Alert, HR News

There are three different definitions in PPACA for a “small” business that can cause confusion…. A small business is less than 25 employees for purposes of the small business premium tax credit. A small business is defined as less-than 50 full-time employees and full-time ...Read More

Special Session Update

Capitol Notes, Politics

The Alabama Legislature began its second special session of 2015 last Tuesday. Gov. Bentley was forced to call the session because next year’s State General Fund budget, which funds all non-educational expenses, has yet to be enacted. Legislators must pass a budget for fiscal ...Read More

Definition of Minimum Value

Health Care Alert, HR News

By Tom Younger, J. Smith Lanier We reported in a Nov. 4, 2014 Alert that IRS had issued Notice 2014-69 intended to end what we have affectionately referred to as “scrawny cow” plans. Some marketers discovered a loophole in the HHS actuarial value calculator. ...Read More

Special Session Ends Without Budget Passage

Capitol Notes, Politics

The Alabama Legislature adjourned the year’s first special session on Tuesday. Though it was called for the purpose of adopting next year’s General Fund budget, the special session ended without a budget passing the Legislature. As a result, Gov. Bentley will be forced to ...Read More

2,000th Graduate Completes Alabama Banking School

Alabama Banking School

Look out world, there is a whole new group of Alabama Banking School graduates! Students traveled to Mobile last week for the week-long session which culminated with the graduation on July 24. Congratulations to both the valedictorian, Woody Odom with AuburnBank, as well as salutatorian, Matthew Oglesby with CB&S Bank ...Read More

Congressional Movement on Premium Reimbursement Plans

Health Care Alert, HR News

By Tom Younger, J. Smith Lanier Many small businesses have in the past reimbursed employees for all or a portion of individual health insurance premiums. Long ago IRS determined that such arrangements are in fact employer-sponsored health plans, to be treated no differently for ...Read More

Increased Filing Penalties

Health Care Alert, HR News

By J. Smith Lanier You are probably aware from all of the press coverage that Congress and the president reached agreement on trade issues; what some called the “fast-track” trade bill. There were actually two separate bills in the package, one being The Trade ...Read More

Impact of the Obergefell Decision

Health Care Alert, HR News

By J. Smith Lanier You have certainly heard by now that the Supreme Court in a narrow 5-4 decision has ruled that same-sex couples have a fundamental right to marry, citing the 14th Amendment. This will have an impact on employee benefit plans in the states ...Read More

2015 Regular Legislative Session Wrap Up

Capitol Notes, Politics

The Alabama Legislature’s 2015 Regular Session ended on June 4, when the House and Senate decided to close the session on its 29th legislative day. By all accounts, the session ended too early – not only could legislators have met for an additional legislative ...Read More