You (or the purchaser or transferee) must complete Form CBS-1, Notice of Sale, Purchase, or Transfer of Business Assets. Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity.If you need additional information, you may call our Chicago office weekdays between a.m. Download IRS Tax Form 4797 with instructions. Bystep guide for accurate reporting of business property sales ensuring IRS compliance. Line 1: Enter the name, address, and Tax Identification Number (TIN) of the other party (either the purchaser or seller).