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Get your taxes done using TurboTax
No, you do not pay federal taxes on income you have not received. If you receive payment in 2020 for the unpaid contract work then you will report that income on your 202020 tax return When you receive your payment the company should also provide you with Form 1099-MISC as your payment is over the $600 threshold.
[Edited 03/11/2020 | 1:16 pm PDT]
‎June 1, 2019
8:55 AM