Under RMO 14-2016, which requirements must be met for a valid waiver of the statute of limitations?

Under RMO 14-2016, which requirements must be met for a valid waiver of the statute of limitations?

• A. The Waiver must be executed before expiration, the date is indicated, signed by the taxpayer or authorized representative, and the expiry date of the period is indicated.
• B. The Waiver must be executed after expiration to be valid.
• C. The Waiver must be filed with the court.
• D. The Waiver requires notarization only.

Answer: (A)

A valid waiver of the statute of limitations must be executed before the period expires and clearly specify the period being waived, including the exact expiry date, with the signature of the taxpayer or an authorized representative. This combination of timing, explicit period, and proper authorization makes the waiver binding and unambiguous. If the waiver is signed after expiration, it cannot affect a period that has already lapsed. Filing with the court or notarization alone do not satisfy these essential elements, which is why those options are not correct.

A valid waiver of the statute of limitations must be executed before the period expires and clearly specify the period being waived, including the exact expiry date, with the signature of the taxpayer or an authorized representative. This combination of timing, explicit period, and proper authorization makes the waiver binding and unambiguous. If the waiver is signed after expiration, it cannot affect a period that has already lapsed. Filing with the court or notarization alone do not satisfy these essential elements, which is why those options are not correct.