Internal Revenue Section 223, NIRC; BPI v. Commissioner, G.R. No. 139736, October 17, 2005. Taxpayer A was required by the BIR to sign and submit a…

The question

Internal Revenue Section 223, NIRC; BPI v. Commissioner, G.R. No. 139736, October 17, 2005. Taxpayer A was required by the BIR to sign and submit a waiver of the statute of limitations on the assessment period, to give the BIR more time to complete its investigation. The BIR accepted the waiver but failed to indicate the date of its acceptance. What is the legal status of the waiver? (2013 Bar Question)

1. A.The waiver is valid because the date of acceptance is immaterial and unimportant.
2. B.The waiver is invalid; the taxpayer cannot be required to waive the statute of limitations.
3. C.The waiver is invalid; the date of acceptance is crucial in counting the start of the period of suspension of the prescriptive period.
4. D.The waiver is valid, having been accepted by the BIR.

This question has not been answered yet.