What IP information does Discourse collect?

This depends first about if the police have a search warrant, and/or if an administrator wishes to share information voluntarily.

I.P. can help to identify a person or their location.

I don’t know about this, maybe in general there is truth in that but not as an absolute.

I.P. addresses that are tied to a physical location can be masked through annother network, that may be what you are talking about?