Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity. Completing the Business Property Statement (Form 571L).Appealing an Assessment. 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. The form to fill out is available on the official escrow website. Electronic filing of the Business Property Statement uses a web-based application that will allow users to view, modify, and submit BPS filings on-line. Keepers also collect cash proceeds from the sale of business assets. The actual form of the sale of a business can involve many variations.