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.The tax professional who comes into contact with such a situation should consider the need to file Form 8594, or to revise the valuation of specific assets. Learn how to file form 8594 and when to file. Seller and Purchaser agree to file all information reports and tax returns in a manner consistent with the purchase price allocation set forth on Schedule 1.