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. 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.Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity. 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. Form 8594 is the Asset Acquisition Statement, which both the buyer and seller must complete and return to the IRS. Form 8594 (Rev io-zoo2). Warranties and representations made as.