Hey guys, Anthony Fontana here. I'm a CPA and in this video, we're gonna go through how to set up a payment plan online with the IRS. Here's a caveat, you cannot set up a payment plan online with the IRS if you owe over 50K. So your balance has to be under 50K for all the years in order to do this. If you do have a balance over 50K, you will have to call the IRS to get set up on a payment plan. All right, let's go. All right, so you're gonna wanna come in and just Google IRS account, okay? Click on this first little screen here and sign into your online account. You'll see this screen here. You're gonna have to log into your account. If you don't already have an account, you're gonna have to obviously create one and go through that fun process. All right, so once you're in, you're gonna wanna scroll down and click on that View Payment Options button right there. All right, then we'll see a screen like this. You can either make a payment or modify your payment plan. Well, this client is already on a payment plan. That's why it's saying modify, but if you don't have a payment plan, you would create one right here. So you would just click on that, go to Payment Plans. All right, then you're gonna see a screen like this. And again, you'll see his current payment plan that the client is on and now our new payment plan that we are going to try and get here. You click Continue and then you'll get a screen that looks like this shows that when you do the direct debit and sum agreement, we're only gonna get that $10 fee to essentially change the current payment plan. Now, if this is your first payment plan that you're gonna make with the IRS, they will charge this $31, set up fee if you do the direct debit installment agreement. If you choose not to do the direct debit installment agreement, right, they're gonna charge you that $130. All right, so when you click Next, right, it's gonna tell you what your minimum payment actually can be. We chose $660, but hey, they're only allowing for $8.42. And the reason for this is because of the C-Sed, it's the 10 years the IRS has to collect on the debt, it's coming up due soon, so they want him to pay a little bit more than the $660. But generally, what you can make is whatever your debt is divided by $72, that would be your minimum payment. All right, so we clicked Yes, we wanted to continue with that in our bucks and then put in your writing account number. Again, this is a direct debit installment agreement. We do this, so the IRS can direct debit, obviously, out of your bank account on a monthly basis. You kinda don't, it's a lot of hands off at this point, but also to have that lower fee for when you set this thing up. All right, then the next screen will be like a confirmation, making sure everything looks okay on the screen. And then you get the next screen is the terms of everything, okay? All right, so the terms are super key in terms of a payment plan. And one thing I'd like to point out is that, you know, if you go to file a tax turn in the future after the payment plan gets set up, and that tax turn has a balance on there, right? You owe, and you don't pay that by April 15th. Most likely this payment plan will go into default and you'll have to do it again. The other thing I would like to say is that, if you are due a refund on a future return, and you still owe, and you're on this payment plan, you're not gonna see the refund. They're gonna apply it to the balance owed. All right, so we click continue and then boom, we are now on a payment plan. You get the confirmation right here. There it is, right? You wanna take the survey? Go ahead, click that button, but there you go.