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. That is where IRS Form 8594 comes in. ▶ Attach to your income tax return. On June 30, 2003, the IRS denied Plaintiffs' claim for a refund. For more information, see the instructions for completing Form 140NR. This comprehensive guide on IRS Form 8621 delves into PFICs, filing requirements, penalties, and more. – The Form 8594 must be attached to each filer's timely filed Federal income tax return.