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Explanation: I suggest to go with "tax evasion/ unreported taxable income" - one example is below. jccantrell is essentially correct; however, Schwarzgeld isn't exactly "untaxed money", it is taxable income that wasn't reported on the income tax return.
Really, Klaus!!! You've sold us short on context this time, encher??
I like "tainted money", and would certainly advise against "slush money" - that has a specific connotation of being hidden in someone's drawer for bribery, as politicians often find....
Automatic update in 00:
4 mins confidence: peer agreement (net): +6
Explanation: also: slush money
see e.g. Der Kleine Eichborn
EdithK Switzerland Local time: 07:58 Native speaker of: German, English PRO pts in category: 87