Generally, both the purchaser and seller must file Form 8594 and attach it to their income tax returns (Forms 1040, 1041, 1065, 1120, 1120-S, etc.) Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity.This report examines and measures the impact of rising residential property taxes on New York City households over the 20052016 period.