by 
Saltlick
ANSWERS: 2
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First you will get hit with penalties. If you don't pay these and your taxes, then the government will eventually take you to court and win a case that could result in liens being placed on your property, have your wages garnished, and/or you spending time in prison.
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Whether paying with a timely filed tax return, or filing late and paying late after receiving a bill from the IRS (and the bill is correct), taxpayers are encouraged to pay the taxes they owe in full. If taxes are not paid, and no effort is made to pay them, the IRS can ask a taxpayer to take action to pay the taxes, such as selling or mortgaging any assets owned or getting a loan. If effort is still not made to pay the bill, or make other payment arrangements, the IRS could also take more serious enforced collection action, such as levying bank accounts, wages, or other income, or taking other assets. A Notice of Federal Tax Lien could be filed that may have a detrimental effect on a taxpayer’s credit standing. http://www.irs.gov/businesses/small/article/0,,id=108326,00.html
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