Both the seller and purchaser of a group of assets that makes up a trade or business must use Form 8594 to report such a sale. Yes. Certificates of formation can be filed online through SOSDirect 24 hours a day, 7 days a week.Our Dallas business lawyers can assist you with the purchase or sale of your business. Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity. Line 1: Enter the name, address, and Tax Identification Number (TIN) of the other party (either the purchaser or seller). In an asset sale, Company A transfers certain property to Company B in exchange for consideration (i.e. cash). Formation of Business Entities and Nonprofit Corporations Under the Texas Business Organizations Code: Online filing available through SOSDirect. Both the buyer and seller must complete IRS Form 8594 during the sale to report the sale and purchase of business assets.