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.
Life on Earth first appeared as early as 4.28 billion years ago, soon after ocean formation 4.41 billion years ago, and not long after the formation of the Earth 4.54 billion years ago. Earth's current life may have descended from an RNA world, although RNA-based life may not have been the first. The mechanism by which life began on Earth is unknown, though many hypotheses have been formulated and are often based on the MillerâUrey experiment.