No Stupid Questions

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If I buy a chair from my neighbors and he does not declare the income and I pay no tax, is this a black market? What kind of market is this? (lemmy.perthchat.org)

submitted 1 year ago* (last edited 1 year ago) by [email protected] to c/[email protected]

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Answer: Informal Market.

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[–] [email protected] 1 points 1 year ago

This is like how buying and selling Bitcoin was no big deal until people started making significant money. Now the US income tax forms include direct questions about whether you have income from cryptocurrency.