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.8883 must be used to make both types of section 338 elections. Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity. The sum of the amounts allocated to Classes IV and V are reported in the aggregate on Form 8594. See Appendix A; see also T.D. 8711 (Jan. This Notice provides the list of areas that qualified as urban based on the results of the 2020 Census for the United States, Puerto Rico, and the Island Areas.