Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity. File Form 8594 with Your Tax Return.Detailed Instructions for Filling Out Form 8594: Asset Acquisition Statement Clauses. Complete Part III and file a new Form 8594 for each year that an increase or decrease in consideration occurs. Today's goal is to help you understand the importance of IRS Tax Form 8594 in preparing for sale of your business to a third party… Both the buyer and seller must complete IRS Form 8594 during the sale to report the sale and purchase of business assets.