Banker's Toolbox Announces — ACQUISITION OF LOAN LOSS RESERVE POWERHOUSE, MAINSTREET TECHNOLOGIES
Banker's Toolbox, Inc., leaders in compliance solutions for financial institutions, announced the acquisition of Georgia-based MainStreet Technologies (MST). MST is an industry leader in the loan risk management space. This acquisition adds to a strong and growing portfolio of compliance-related solutions and will continue to enhance the value Banker's Toolbox brings to both their customers and the industry. (Read full press release here.)
New withholding tables issued
The Department of the Treasury has announced that the IRS has sent new tax withholding guidance to employers to implement tax cuts and other provisions of the Tax Cuts and Jobs Act. Treasury encouraged employers to start using the new withholding tables as soon as possible, but no later than February 15, 2018. The IRS intends to release a new withholding calculator by the end of February, for employees to use to update their withholding information as needed. The IRS said the tables are designed to produce the correct amount of tax withholding, and to avoid over- and under-withholding of tax as much as possible.