Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity. 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. Who Must File Form 8594? Both the seller and purchaser of a group of assets that make up a trade or business need to file Form 8594. Line 1: Enter the name, address, and Tax Identification Number (TIN) of the other party (either the purchaser or seller). , Richard Yoo, Dirk Elmendorf, Patrick Condon, and Rackspace Ltd. (c) Seller and Buyer shall report consistently with the Allocation in all Tax Returns, including IRS Form 8594, which Seller and.