Yes. The IRS will let you pay off your federal tax debt in monthly payments through an installment agreement. If you haven't filed yet, step through the File section of TurboTax until you reach the screen How do you want to pay your federal taxes? Select the installment payment plan option, Continue, and follow the onscreen instructions.
If you already filed, or you're unable to find this option in TurboTax, you can apply for a payment plan at the IRS Payment Plans and Installment Agreements webpage (make sure you've filed your return before applying through their site).
Please note that there will be a convivence fee to make a payment with a credit card.
When I went through the steps for a payment plan there was nowhere to input the information for a partial payment. Will the IRS contact me for this initial payment and the payment plan, or should I go through their website to do this?
Do it through their website if you did not do it through TurboTax. Apply Online for a Payment Plan