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• Money-making activities that people don't report to the government, including both illegal and legal activities.

  Internal Revenue Service - Cite This Source - This Definition
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  Cite Definition for underground economy

  American Psychological Association (APA)

  underground economy. (n.d.). Understanding Taxes Student Glossary. Retrieved March 28, 2023, from website: http://www.expertglossary.com/definition/underground-economy.

  Chicago Manual of Style (CMS)

  underground economy. apps.irs.gov. Understanding Taxes Student Glossary. Internal Revenue Service. http://www.expertglossary.com/definition/underground-economy (accessed: March 28, 2023).

  Modern Language Association (MLA)

  "underground economy." Understanding Taxes Student Glossary. Internal Revenue Service. 28 March. 2023 http://www.expertglossary.com/definition/underground-economy.

• Browse Related Terms: ability to pay, benefits received, Earned Income Credit (EIC), financial records, Gross Income, horizontal equity, underground economy, vertical equity