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. ✓ Complete IRS Form 8594 Asset Acquisition. Form 8594 is an Internal Revenue Service (IRS) form that provides a structured way to allocate the purchase price of a business among different asset classes. Requires taxpayers to file Form 8594, Asset Acquisition Statement, when there is a transfer in the ownership of a business.