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. 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.IRS Form 8594 walkthrough (Asset Acquisition Statement under IRC Section 1060). Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity. 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.