When painting, sometimes mask-free cutting-in is impractical and masking tape must be used. The advice here is to remove masking tape before the paint has dried. That makes sense when a single coat is being applied. But what should be done with masking tape when multiple coats are being applied? Surely the correct procedure is not to remove the tape and re-mask for every coat.
Usually the second coat doesn't need tape because you don't need to get as close to the edge. But if you are going to, you'd want to re-mask for each coat. Otherwise the paint can seep under the masking tape while it's drying or it will pull non-masked paint off when you remove it.
It depends on the masking tape and its quality - 3M has a "new" blue tape that can stay on till the last coat is applied. If you then choose to rip it off or wait till the paint is dry is up to you. The tape can stay on a week. I have used it myself with perfect results (not working for 3M).
There are two issues. The adhesive on the tape and the adhesive action of the paint.
The more expensive masking tapes use adhesive that dries (cures) more slowly, letting you pull the tape after it's been on the wall longer without damaging the paint below. It may also be thicker, or made of superior backing paper (or plastic).
With multiple applications of paint, the paint itself might form a film that is damaged when too thick to tear cleanly. In such cases, slow peeling of the tape assisted with a knife or razor blade to cut the paint from the edge of the tape can prevent your paint job from tape removal damage.