Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity. 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 if goodwill or going concern value.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. That is where IRS Form 8594 comes in. When and Where to File. – The seller and purchaser must file Form 8594 as an attachment to their respective income tax return for the year in which the sale.