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. Both the buyer and the seller in an asset acquisition are required to file the Asset Acquisition Statement, Form 8594, with the IRS.Form 8594 must also be filed if the purchaser or seller is amending an original or a previously filed supplemental Form. 8594 because of an increase or decrease. That is where IRS Form 8594 comes in. Locate the closest Taxpayer Assistance Center to you. â–¶ Attach to your income tax return. Form 966 Corporate Dissolution or Liquidation is the IRS form that must be filled out when closing down an S corporation. Call the local IRS office to schedule an appointment. Bronx.