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. 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. â–¶ Attach to your income tax return. Both the buyer and the seller in an asset acquisition are required to file the Asset Acquisition Statement, Form 8594, with the IRS. Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity. When conducting a business sale, both parties may need to report business assets on IRS Form 8594. Learn more in our guide!