Currently I am reading Lost by Gregory Maguire. It's a compelling blend of mystery, comedy and fable. I greatly admire the work of Maguire, including his other two novels Wicked and Confessions of an Ugly Stepsister . Gregory Maguire binds each tale he weaves to a fable from the past ( A Christmas Carol, The Wizard of Oz, and Cinderella) but tells a fresh, new story from a more adult and egalitarian perspective. Maguire takes the black and white/right and wrong tone of beloved childhood books and colors them with a more realistic shade of gray. He asks all of the "big" philosophical and political questions with witty dialogue, disturbing observations, comic relief, and lucid prose.
Another favorite author of mine is John Kennedy Toole. I recently finished reading his The Neon Bible , which is a complex yet short novel of small-town life in the Southern United States circa 1940. Toole wrote The Neon Bible as a teenager, which makes the work all the more impressive. He only wrote one other novel before his death, A Confederacy of Dunces , which is a Pulitzer Prize winner and a must-read for anyone who appreciates tearing off the masks of society with a tone of twisted humor.