Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity. 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. The form you mentioned, Form 8594, is used to report when business assets change hands, and the date you choose can affect your taxes. Thus, the buyer and the seller do not have to file. Form 8594 to report an allocation of the purchase price. (c) Seller and Buyer shall report consistently with the Allocation in all Tax Returns, including IRS Form 8594, which Seller and.