Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity. Generally, both the purchaser and seller must file Form 8594 and attach it to their income tax returns (Forms 1040, 1041,.Instructions for Form 8594, Asset Acquisition Statement Under Section 1060. Both parties are required to file Form 8594 alongside their respective tax returns to report the tax consequences of the asset acquisition accurately. Who Must File Form 8594? Both the seller and purchaser of a group of assets that make up a trade or business need to file Form 8594.