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.Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity. Go to Screen 65, Asset Acquisition Statement (8594) (Screen 58 for S-Corp). Enter a 1 or 2 in the field 1=buyer, 2=seller (MANDATORY). 1. Gather necessary documentation for the asset sale. Learn how to file form 8594 and when to file. See the instructions for exceptians and filing requirements for Form TO F 90-22.1, Report of Foreign Bank and Financial. Accounts If 'Yes,' enter the name of. The form contemplates multiple Sellers and a single Buyer, and is not intended to be industryspecific.