You'll need to sign in or create an account to connect with an expert.
No, but why didn't they pay you until then? Most states requires payroll to be made within shorter time periods.
As you are on a cash basis, income received in 2021 is only reportable on your 2021 tax return (next year) even if the payment was for work done in 2020.
The project ended late December. Took a while for my payment to go through the system and there were some hiccups I had to sort out with HR to get my payment.
The IRS taxes you in the year income is received, so as Tax Expert @MinhT1 the money should be taxed in 2021. Double-check with HR to make sure they are not going to issue a 2020 W-2 or 1099-NEC.
They should not, but you said there were some hiccups so it's worth checking.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
fj7
New Member
dawnimit
New Member
harryyee-rocketm
New Member
yvettecoleman09
New Member
steuer-jesse
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.