what are the ramifications of not submitting my filing due to owing money this year?

i earned approximately 20k through the jobs that I received w2s from. towards the end of the year I started contracting and earned approximately 4k for which I received a 1099-MISC. this cancelled out any return I would have received and now I'm supposed to pay approximately $700 dollars to the irs.. if I file that is. what consequences this year or down the line could I expect if i choose not to file, and if I do, how soon would i have to pay the irs? I realize this amount is basically chump change, and this makes me the chump, but would this mean I can fly under the radar?