50.1K
Verified Solution
Link Copied!
Which of the following statements about a tax deficiency is true?
A. If a taxpayer is assessed a deficiency, the government will charge interest on the deficiency regardless of the reason for the deficiency.
B. Individuals who pay interest on a tax deficiency can deduct it as an itemized deduction.
C. Individuals who pay interest on a tax deficiency cannot deduct it as a business expense.
D. Both a. and c.
Answer & Explanation
Solved by verified expert
