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 seller and purchaser of a group of assets that makes up a trade or business must use Form 8594 to report such a sale if goodwill or going concern value.â–· Attach to your income tax return. Best Time To Call. Comments. If you've received an IRS seizure notice, it's time to act now! Please complete the form below to get a free consultation with our tax specialist. Name. Did you buy or sell a business during the tax year? If so, you may need to file IRS Form 8594 with your federal tax return.