Is anyone here familiar with whether theres any tax benefit to donating some of these kinds of collections instead of selling? I heard something about being able to deduct the full value if you donate to a museum or something?

One thing to keep in mind is the holding period for inherited assets - since you inherited these baseball cards, they're automatically considered "long-term" regardless of how long you actually hold them before selling. This means you'll qualify for long-term capital gains treatment (which for collectibles is that 28% max rate Luis mentioned) even if you sell them right away. Also, if you're planning to sell the entire collection, consider spreading the sales across multiple tax years if the amounts are substantial. Since collectibles are taxed at that higher 28% rate rather than the preferential rates for stocks, managing the timing of sales can help with tax planning, especially if it keeps you in lower overall tax brackets. Make sure to keep detailed records of each sale - the IRS likes to see documentation for collectible transactions, so track the specific items sold, sale prices, and your basis in each piece. Good luck with those home renovations!

Just a personal experience - I didn't file my 2021 taxes until last March (so over a year late) and I ended up owing about $1800 in taxes plus around $400 in penalties and interest. The longer you wait, the worse it gets. File ASAP even if you have to use incomplete information and then amend later. A rough filing now is better than a perfect filing months from now when it comes to penalties.

I was in almost the exact same situation last year - missed filing 2022 taxes due to a job change and cross-country move. The stress was eating me alive until I finally bit the bullet and filed. Here's what I learned: if you're getting a refund (which many people are), there's literally NO penalty for filing late. The IRS isn't going to penalize you for being late to collect money they owe you. You just lose the refund if you wait more than 3 years. If you do owe money, the failure-to-file penalty is brutal (5% per month), but here's the key - it stops accumulating once you file. So even if you can't pay immediately, filing stops the bleeding on the biggest penalty. My advice: gather whatever documents you have and file this weekend. Don't wait for every single paper to be perfect. You can always amend later if needed, but getting that return filed stops penalties from growing and gives you options for payment plans. The relief I felt after finally submitting was incredible - way better than the months of anxiety I put myself through by procrastinating.

Has your attorney discussed an installment agreement as a backup plan? Even while disputing the CP22A, sometimes it makes sense to set up a minimal payment plan to show good faith and prevent more aggressive collection actions. You can still pursue reconsideration while making small payments. When I went through this, we set up a $50/month payment plan while my documentation was being reviewed. This kept collections off my back, and once the IRS adjusted my liability downward, they applied the payments I'd already made and recalculated the plan. Just something to consider as a strategic move.

I went through something very similar last year - CP2000 to CP22A in just three weeks because I initially tried to handle it myself without understanding the timeline. The key thing to remember is that a CP22A isn't actually the "final" notice, despite how it reads. It's the IRS's assessment, but you absolutely still have recourse. Your attorney should immediately file for audit reconsideration AND request a Collection Due Process (CDP) hearing if you haven't already. The CDP hearing is crucial because it puts an automatic stay on collection activities while your case is being reviewed. This means no liens or levies while you're fighting the assessment. One thing that really helped my case was getting a transcript of my account from the IRS to see exactly what information they had versus what they were missing. Sometimes the disconnect is clearer when you see their records side-by-side with your documentation. Your attorney can request this, or you can get it yourself online. The $14,750 amount suggests they're probably treating some transaction as having zero basis when you actually have documentation showing your cost basis. This is super common with stock sales where the 1099-B doesn't include basis information that was reported separately or carried over from previous years. Stay persistent - I know it's stressful, but these cases are absolutely winnable when you have the right documentation and follow the proper procedures.

This might be a dumb question but what exactly is the "tax treaty benefit" part referring to? I need an ITIN too but I'm just filing regular taxes. Do I need to know about treaty stuff or is that just for certain countries?

I went through the exact same frustrating experience with my ITIN application last year! The "missing information" rejection without specific details is unfortunately very common. Here's what I learned from my experience: First, definitely look for a rejection code on your notice - it's usually a small number or letter that corresponds to the specific issue. Sometimes it's easy to miss because it's not prominently displayed. Second, I'd strongly recommend calling the ITIN line (1-800-908-9982) early in the morning - I found I had better luck getting through around 8 AM when they first open. Have your rejection notice and W-7 form ready when you call. For treaty benefits specifically, make sure you're using the correct treaty article and exemption code on your W-7. I initially put the wrong code because I misunderstood which article of the treaty applied to my situation. The IRS website has country-specific treaty tables that show exactly which codes to use for different types of income. Also, since you moved here last year, double-check that your supporting documents (passport, etc.) are still valid and that any required translations are properly certified. Good luck - don't give up! It's worth getting right for the treaty benefits you're entitled to.

Took 6 months for mine to process but I did get a decent interest payment so theres that 🤷‍♀️

I feel you on the anxiety! Filed my amended return in October and still waiting too. The IRS amended return tool hasn't been super helpful - just says "received" for weeks now. Might have to accept that Christmas refund isn't happening this year 😔 At least we're not alone in this waiting game!