Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity. IRS Form 8594 walkthrough (Asset Acquisition Statement under IRC Section 1060).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. The buyer must also file Form 8594 for the transaction. Complete Part III and file a new Form 8594 for each year that an increase or decrease in consideration occurs.