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.
When did life originate? Evidence suggests that life first evolved around 3.5 billion years ago. This evidence takes the form of microfossils (fossils too small to be seen without the aid of a microscope) and ancient rock structures in South Africa and Australia called stromatolites.