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. Did you buy or sell a business during the tax year?If so, you may need to file IRS Form 8594 with your federal tax return. Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity. Form of Asset Purchase Agreement. Attached as Exhibit.