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. Feb. Both entities must submit IRS Form 8594 with matching allocations. Such alignment reduces audit risk. Purchaser agrees to provide seller with a draft Form 8594 within ninety (90) days after closing for review and comment.