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 the Asset Acquisition Statement, which the buyer and seller must complete and submit to the IRS. 1. Gather necessary documentation for the asset sale. Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity. Learn how to file form 8594 and when to file. An asset sale is when another entity buys the assets of an entity. But the definition of "selling a business" doesn't stop there.