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What Financial Information is Needed Before I Can Know What My Options Are For A Georgia Tax Problem?

If you owe back taxes to the Georgia Department of Revenue, you may not be aware of the different kinds of financial information you’ll have to have reviewed before you can know what options you qualify for to solve your tax problem.”  I’ll tell you what those are.

Hi, I’m Jeff Fouts, a tax attorney located in metro Atlanta, with a state-wide, and nationwide, law practice helping clients who have serious Georgia tax problems.

So, “What financial information is needed in order to know what options you have to solve your Georgia Tax Problem?”

Categories of Information

All of the Georgia financial forms include the same major categories of information that Georgia needs from you, and that we would need from you in order to review your case, items such as your basic personal and household information, your assets, your liabilities, your income and living expenses.

An important point to remember is that you should avoid giving this financial information to Georgia before you have analyzed it along with the other facts in your case.  Your goal should be to know what your options are before you ever approach the Georgia Department of Revenue.  It is usually not beneficial to give Georgia all your data before you know where your case is heading.

Personal and Household

The personal and household information includes your place of employment, or if you are self employed, what the name and location of your business is.  They also want to know how many people live in your household.  This includes anyone who lives with you, for example, your spouse, your children who actually live with you, and anyone else, including grandma, your live-in girl friend, a room mate, or anyone else, regardless of who they are.

Asset and Liabilities

The asset information we would need to get from you includes a listing of all assets you own.  Don’t worry, you’re not going to have to list every thing in your house, but we will need to know what the value is of broad categories of items.  This includes cash, bank accounts, investment accounts, retirement accounts, real estate, vehicles, and any other assets, including collectibles and jewelry, if you own any.  If you are self employed you should also include any business assets you may have.  For example, if you are a carpenter, this would a valuation of the lump sum of your hand tools and power tools.

Income and Expenses

For businesses, we would need to know about your business income and business expenses. This includes gross receipts, cost of goods, rents, utilities, supplies, business vehicle costs, and any other items.

For individuals we would need to know your personal monthly income and expenses. Personal expenses include any food, clothing, medical expenses, loan payments, insurance for health, auto insurance and life insurance, as well as other categories.

Can Get Confusing

Sometimes the Georgia financial form confuses taxpayers, and they accidentally use incorrect information, or accidentally leave off important information.  Please be aware that we need all your information in order to know what direction to go in with your case.  And beware that Georgia won’t accept your financial forms if they aren’t completed the way they need to be.  Valuable time will be wasted, or worse yet, Georgia may not even consider you to be a candidate for a great solution that you actually qualify for.

So the name of the game is to be sure you use the complete, correct information.


I hope this important video tip has helped you understand the Georgia Department of Revenue a little better and about how tax problems are solved.  Chances are you have questions or concerns about your own particular tax problem.  What I encourage you to do is pick up the phone and call me.  I can answer your questions.  Over the past 20 years I’ve represented clients all across Georgia, and in 50 states and 29 foreign countries, and I welcome your call.  You can reach me at (888) 995-6785 or by email at  I’m Jeff Fouts and thanks so much for watching.  Have a wonderful day.

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Live Help Available Monday thru Friday 8:30AM - 4:30PM EST or Schedule a FREE Consultation Here »