Guaranteed payments A partnership may make an election under 444 of the Internal Revenue Code to elect a tax year different from its required tax year. Which of the following statements is correct about the conditions required for the partnership to be eligible to make an election under 444 of the Internal Revenue Code? The partnership has fewer than 50 partners. The partnership is a general partnership. The partnership may choose a tax year where the requested deferral period is no longer than 3 months. The partnership is a member of a tiered structure