A payment plan is an agreement with the IRS to pay the taxes you owe within an extended period. You should request a payment plan if you think you will. About Form 9465 · Tax Topic No. Once you complete your online application, you will receive immediate notification of whether your payment plan has been approved.
An example would be when the IRS grants a partial installment agreement (PPIA), the IRS requests updated financial information for its 24-month review to determine if financial circumstances have changed. Taxpayers experiencing financial difficulties should contact an IRS representative by calling the number on their settlement notice. Applicants must submit the form to the IRS within 30 days of the date of their letter of acceptance of the installment agreement to ask the IRS to reconsider their situation. The IRS did not send monthly payment proofs and reminders during the relief period due to the closure of IRS offices due to COVID-19.