7 Out of 10 Americans Don’t File Their Taxes Correctly (Are You One of Them?)

Photo by URem from Shutterstock

#5 Question: Do I need to report my income if I didn’t get a tax form? 

Answer: YES

Some people wrongly assume that they don’t need to report their income if they don’t get a tax form. Well, Uncle Sam would completely disagree. Indeed, there are some thresholds that actually trigger mandatory reporting to the taxman, but all individuals are responsible for what they report on their tax returns, namely their income.

You don’t need a special invitation to do so. However, let’s expose several scenarios. Let’s say you’re a freelancer; in this case, the person/company who hires you for your services is not required to send you a Form 1099-NEC if the service you provide costs less than $600.

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