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 Earth. Earthâs Beginnings: The Origins of Life. Earth is the only planet we know of that can support life. This is an amazing fact, considering that it is made out of the same matter as other planets in our solar system, was formed at the same time and through the same processes as every other planet, and gets its energy from the sun.