off the books

off the books definition - business

off the books

Describing a business transaction for which no official record is maintained. Transactions and payments generally take place off the books in order to hide them from government officials, especially the IRS.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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