Can I make changes to the payment plan I currently have

Yes, you can make changes to the payment plan you currently have. The IRS allows taxpayers to modify their existing installment agreements under certain conditions. Here are the key points regarding changes you can make:

1. Change Monthly Payment Amount: You can request to increase or decrease your monthly payment amount. If you request to decrease the payment amount by 20% or less, and you are compliant with filing and payment requirements, the IRS may allow the decrease. For decreases greater than 20%, a financial review may be required.
2. Change Payment Due Date: You can request to change the due date of your monthly payment. This request is generally allowed if you are in compliance with the terms of your installment agreement.
3. Convert to Direct Debit Agreement: You can convert your existing agreement to a Direct Debit Installment Agreement (DDIA), which may reduce the user fee and ensure timely payments.
4. Change Bank Routing and Account Number: If you have a DDIA, you can change the bank routing and account number from which payments are withdrawn.
5. Reinstate After Default: If your installment agreement has defaulted, you can request to reinstate it. This may involve paying a reinstatement fee and providing updated financial information.

To make these changes, you can use the Online Payment Agreement tool on the IRS website or contact the IRS directly. It is important to ensure that you remain compliant with all filing and payment requirements to avoid defaulting on your agreement.

Sources:
Instructions for Form 9465 (11/2023)
Notice 746 (10/2023)
IRS FAQ
Publication 1380
IRM Part 5. Collecting Process. Chapter 4. Case Processing. Section 11. CCP Installment Agreements
Publication 1345 (11/2023)
IRM Part 5. Collecting Process. Chapter 14. Installment Agreements. Section 1. Securing Installment Agreements