Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity. Both the seller and purchaser of a group of assets that makes up a trade or business must use Form 8594 to report such a sale.Both the seller and purchaser of a group of assets that makes up a trade or business must use Form 8594 to report such a sale if goodwill or going concern value. Electronic filing of the Business Property Statement uses a web-based application that will allow users to view, modify, and submit BPS filings on-line. Buyer's accepted accounting practices.