Question: On July 1 of year 1, Riverside Corp. (RC). A calendar-year taxpayer, acquired the assets of another business in a taxable acquisition.1. Personnel will identify the asset(s) to be disposed, fill out Property Disposition Form and notify the. Fixed Assets Department. Purchase of Acquired Assets; Assumption of Assumed Liabilities, 2. Mergers and acquisitions is a complex process. You will need a lawyer to complete the process. ✓ Complete IRS Form 8594 Asset Acquisition.