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. Seller may be able to allocate contingent consideration to assets on which the installment method would provide the most benefit – e.g. The acquisition of assets is often also associated with a transaction in which the buyer and seller will need to complete IRS form 8594. In Part IGeneral Information, enter the name, address, and TIN of the other party to the transaction (purchaser or seller).