The IRS requires intra-family loan rates to reflect the current commercial loan market. If your loan requires little or no interest, you may be required to pay taxes, Cunningham says.
Clouds formed as the Earth began to cool, producing enormous volumes of rainwater that formed the oceans. For the next 1.3 billion years (3.8 to 2.5 billion years ago), the Archean Period, first life began to appear and the worldâs landmasses began to form. Earthâs initial life forms were bacteria, which could survive in the highly toxic atmosphere that existed during this time.
The evolutionary history of life on Earth traces the processes by which living and fossil organisms have evolved since life appeared on the planet, until the present day. Earth formed about 4.5 Ga (billion years ago) and life appeared on its surface within 1 billion years. The similarities between all present-day organisms indicate the presence of a common ancestor from which all known species have diverged through the process of evolution.