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. 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. â–¶ Attach to your income tax return. Instructions for Form 8594, Asset Acquisition Statement Under Section 1060. This comprehensive guide on IRS Form 8621 delves into PFICs, filing requirements, penalties, and more.