Form 8594 must also be filed if the purchaser or seller is amending an original or a previously filed supplemental Form. 8594 because of an increase or decrease.Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity. In an asset sale, Seller and Acquiror each must complete Form 8594, Asset Acquisition Statement. Under Section 1060 (Rev. Intangibles assets in order to fill out. – The Form 8594 must be attached to each filer's timely filed Federal income tax return. In Part IGeneral Information, enter the name, address, and TIN of the other party to the transaction (purchaser or seller). Effective January 1, 2021, the Michigan flow-through entity (FTE) tax is levied on certain electing entities with business activity in Michigan.