When it comes to dealing with the IRS, installment agreements often provide a helpful solution for taxpayers who are struggling to pay their taxes in full. However, circumstances can change and you may find that the terms of your installment agreement are no longer feasible for you. In such cases, you may need to modify or change your installment agreement with the IRS. Here`s what you need to know:

1. Review your current installment agreement: The first step is to review your existing agreement to determine what modifications you need to make. Consider your current financial situation, and assess whether the monthly payment amount is too high or too low. If you`re unable to make payments at all, you may need to request a deferment or lower payment amount.

2. Contact the IRS: Once you`ve determined the modifications you need, you can contact the IRS to request a change to your existing installment agreement. The best way to do this is by calling the phone number listed on your installment agreement notice, though you can also send a written request via mail.

3. Provide relevant information: When contacting the IRS, you`ll need to provide detailed information about your financial situation. This includes your current income, expenses, and debts. You may also need to provide documentation to support your request, such as recent pay stubs and bank statements.

4. Be prepared for delays: While the IRS strives to process requests for changes to installment agreements as quickly as possible, it`s important to be prepared for potential delays. This is particularly true if you`re asking for a significant change to your agreement, or if the IRS needs additional time to verify your financial information.

5. Consider hiring a tax professional: If you`re struggling to navigate the process of modifying your installment agreement, it may be helpful to hire a tax professional. They can help you evaluate your financial situation, gather the necessary documentation, and communicate effectively with the IRS on your behalf.

In conclusion, modifying an installment agreement with the IRS is possible, but it requires careful preparation and communication. By reviewing your agreement, contacting the IRS, and providing relevant information, you can make changes to your agreement that better align with your current financial situation. If you`re struggling to navigate the process, consider hiring a tax professional to help guide you through it.