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 can deduct it as a business expense.
D) Statements A.and B.are both true.
Correct Answer:
Verified
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