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.
Within the first billion years of Earth's history, life appeared in the oceans and began to affect the Earth's atmosphere and surface, leading to the proliferation of aerobic and anaerobic organisms. Some geological evidence indicates that life may have arisen as much as 4.1 billion years ago.