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In this tutorial, CPA Anthony Fontana explains how to set up an online payment plan with the IRS. A key point is that taxpayers with a balance exceeding $50,000 cannot set up a plan online and must call the IRS instead. To begin, users should search for "IRS account" and log into their online account or create one if they haven't yet done so. Once logged in, they should scroll down to click on the "view payment options" button, where they can either make a payment or modify an existing payment plan. The video demonstrates these steps in detail.