If you don’t have the money to pay your tax debt in full, the IRS will probably agree to an installment agreement. The issue usually comes down to how much you’ll have to pay per month. The IRS wants your monthly payment to be as high as possible. Most clients want the smallest possible monthly payment. It’s a negotiation based on your income and living expenses.
While you’re in an installment agreement the IRS will not take other collection activity against you. However, interest and penalties continue to accrue.