I was just doing a 2-hour ASCE on-demand webinar on seismic design of horizontal tanks on saddles, which touches on the topic briefly.
References used are "The Dynamic Behaviour of Tanks by" G.W. Housner (1963) and “Analysis of Pressurized Horizontal Vessels Under Seismic
Excitation” (Di Carluccio et al, 14th World Conference on Earthquake Engineering, October 2008). I think the Housner work was the basis of the current tank seismic codes.
The more common tank shapes are round, and so all the codified information I've seen has been for round tanks, but the theory is similar, and I think some of the round-tank designs were derived by considering vertical slices as rectangular tanks. However, you'll have to work out the corresponding seismic acceleration factors, which change with every new edition of the codes.
In general, you calculate the sloshing wave height and increase the tank sidewall height to accommodate it, or reduce the operating level. In low seismic areas, the sloshing wave height may be just a few inches. In high-seismic areas, it can be several feet. An alternative is to calculate the pressures on the tank roof and confirm that the roof can handle those pressures. This was covered to some extent in a seminar several years ago by Praveen Malhotra, and it may be in his paper "Simple Procedure for Seismic Analysis of Liquid-Storage Tanks"- I've got a copy of that somewhere, but don't see it free online at the moment, a bit of searching may turn it up. The paper is for round tanks, not rectangular, though.
The sloshing wave idea is pretty simple on paper, but there are some Youtube videos of swimming pools in earthquakes, and the actual sloshing can be pretty random-looking, not always the gentle back-and-forth wave you might expect.