Get notices from the IRS
It’s probably fair to assume that no one wants mail from the IRS. But if you don’t file or don’t pay, that’s exactly what could happen. “The IRS gives you multiple opportunities to get it right,” says Green. “They have to send you a notice before taking any action, and usually they need a response in 30-60 days. But many people in this situation know it’s coming, so they panic when they get their notice and shove it in a drawer to deal with when they have the money.”
But here’s the thing: Whether you have the money or not, if you don’t reach out to the IRS upon receiving a notice, they could start taking action. What kind of action? Well, they can make you forfeit your refund.
