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.IRS Form 8594 walkthrough (Asset Acquisition Statement under IRC Section 1060). The form can be found on the tax.ohio. Gov website in the Tax Forms search. A purchaser of the assets of a business will be liable for any unpaid sales tax of the seller, as well as any accrued interest and penalties related thereto.