If you do not receive a 1099-MISC, what should you do regarding your income?

The requirement to report all income, regardless of whether a 1099-MISC has been received, is based on tax law stipulations that mandate individuals report their total income for the year. The IRS expects all taxpayers to declare every source of income, whether received in cash, check, or through other means, even if they do not receive any specific tax documents like the 1099-MISC.

This is important because the 1099-MISC is merely a reporting tool that reflects income paid to a taxpayer, primarily for freelance work or certain services. However, the absence of this form does not exempt an individual from their obligation to report earnings. Therefore, all income earned must be reported to the IRS, thereby ensuring compliance with tax laws and contributing to proper tax assessments.

In choosing this answer, it aligns with the fundamental principle of self-reporting income, guiding taxpayers to uphold their duties even without third-party documentation.