I've been having the same issue for about the last week, noticed it Thursday, February 21. What's weird is it's not happening with every incoming call, but about 90% of them. I had been holding off on updating my iPhone 4S to iOS 6 so I thought that might be the problem. So Wednesday night (February 28) I finally caved and updated my phone, but that wasn't the problem since it has continued to happen over the last 2 days. I called customer support for my carrier (MTS) last night, but all they had me do was reset my network settings on my phone. Although they did check and see that apparently one of the towers in my area is having issues, so all I can do is wait for it to be fixed.
However it seems rather odd that it's taking them over a week to fix the tower and that my phone actually has 2-4 bars at all times and the 3G symbol is there, telling me that there is service. Of the few people I have managed to talk to they tell me that the phone doesn't even ring on their end, it just goes straight to my voice mail. Basically I might as well have my phone off since that's how it's acting. I've checked all my settings and nothing is wrong there. It's getting really frustrating because I rely on my phone for work and I've been missing work calls from the calling system all week.