From: Duncan Frissell <frissell@panix.com>
Date: Sun, 16 Jan 94 14:48:15 PST
To: cypherpunks@toad.com
Subject: Re: Crypto and taxes
Message-ID: <199401162247.AA00203@panix.com>
MIME-Version: 1.0
Content-Type: text/plain


To: cypherpunks@toad.com

Perry says:
 
P >Perhaps not. Its very common in many large business conducted here in
P  >New York in certain seemingly legitimate industries for much of the
P >business to be conducted off the books -- people who will take cash
P >for work are sought after. I will not name the industry in question,
P >but it is one of the few major ones left in the city and it isn't
P >finance.

The size of NYC's underground economy can be proven by the fact that 
almost any mortgage lender will give you a "No Income Verification" loan 
for a residential property.  They don't care where you get the dough from 
as long as you have a good record of making payments (they still do a 
credit check).

DCF
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