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 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity.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. You may complete the Assessment Review Form or visit either of the offices of the Property Appraiser. IRS Form 8594 walkthrough (Asset Acquisition Statement under IRC Section 1060). Most vendors who maintain accounts receivables with the university will request a copy of our IRS W-9 form. We do the same in our accounts payable vendor file.