Hill said she and Sony Worldwide Entertainment had struck a deal for five songs, plus a bonus if she turns in a full album, The (Newark, N.J.) Star-Ledger said Saturday.
"Yes, I have recently entered into an agreement with Sony Worldwide Entertainment, to launch a new label, on which my new music will be released," Hill said. "And yes, I am working on new music."
Hill owes Uncle Sam $504,000 out of a total liability of $554,000. She pleaded guilty last summer to three counts of misdemeanor tax evasion.
Hill's sentencing was delayed another two weeks. Her attorney told the Star-Ledger a loan was in the works that would pay off the tab.
The Los Angeles Times said the singer also took to social media this week to deny reports she was facing eviction from her home in West Orange.
2014: The Year in Music [PHOTOS]