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.In an asset sale, Seller and Acquiror each must complete Form 8594, Asset Acquisition Statement. Under Section 1060 (Rev. Feb. Included as part of intangibles that we purchased is key personnel valued at 300K. Seller may be able to allocate contingent consideration to assets on which the installment method would provide the most benefit – e.g. In Part IGeneral Information, enter the name, address, and TIN of the other party to the transaction (purchaser or seller). The acquisition of assets is often also associated with a transaction in which the buyer and seller will need to complete IRS form 8594. Arrangements that include contingent payments are assessed to determine if the consideration is for postcombination services. The tax professional who comes into contact with such a situation should consider the need to file Form 8594, or to revise the valuation of specific assets.