The return should include the tax due from business operations to the last day of business, as well as any tax collected on assets that you sell. 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.Today's goal is to help you understand the importance of IRS Tax Form 8594 in preparing for sale of your business to a third party… At the top of the Business Personal Property Tax Return, copy the complete legal name of the business and the. Business applications and tax forms to properly register your business and pay your dues are listed below.