Generally, both the purchaser and seller must file Form 8594 and attach it to their income tax returns (Forms 1040, 1041,. Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity.Purchaser agrees to provide seller with a draft Form 8594 within ninety (90) days after closing for review and comment. In Part IGeneral Information, enter the name, address, and TIN of the other party to the transaction (purchaser or seller). – Both the purchaser and seller are required to file Form 8594.