It's
not OR, it's
AND ...
"Applies to sellers receiving over $20,000 in gross payment volume AND over 200 payments"
https://cms.paypal.com/us/cgi-bin/ma...ng_us/IRS6050W
When reading the first section "What is Internal Revenue Code (IRC) Section 6050W?" note the word
both ... some people see the thresholds bullet points and assume each are separate - no, both thresholds must be met ... $20K AND 200 transactions.
Ron