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 origin of life on earth is a scientific problem which is not yet solved. There are plenty of ideas, but few clear facts. It is generally agreed that all life today evolved by common descent from a single primitive lifeform. It is not known how this early form came about, but scientists think it was a natural process which took place perhaps 3,900 million years ago. This is in accord with the philosophy of naturalism: only natural causes are admitted. It is not known whether metabolism or gen