If your firm has been touched by the great resignations of 2022, you may have some issues to consider:
1) Definition of compensation and the treatment of the payment of sick and vacation pay. How is it handled? How will it be paid? Will deferrals have to be taken out?
2) Will the resignations affect headcount to the tune you contract 20% of. Your workforce? If so, the Internal Revenue Service might consider this a partial termination. If people quit, rather than a contraction of your business, document it and. document the resignations.