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. 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. In Part IGeneral Information, enter the name, address, and TIN of the other party to the transaction (purchaser or seller). The buyer must also file Form 8594 for the transaction. Learn how to file form 8594 and when to file. IRS Form 8594 breaks down the assets of the business being purchased or sold into seven classes or categories.