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.
Earliest life on Earth: scientists find evidence in WA rock sediments. Evidence of what could be the earliest forms of life on Earth has been unearthed in the remote Pilbara region of Western Australia. Researchers from Australia and the US have discovered signs of âcomplex microbial ecosystemsâ within rock sediments dated at 3.5bn years old.