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.This form provides the IRS with a detailed breakdown of how the purchase price is allocated across different asset categories. Learn how to file form 8594 and when to file. 7 Tax year and tax return form number with which the original Form 8594 and any supplemental statements were filed. According to section 1060 of the Internal Revenue Code, the IRS requires that you fill out and file Form 8594 when you're buying or selling a business.