How long do you keep your yearly receipts?? We're going through our house, trying to reorganize everything now that our 5 and 2 year old are wanting to have more stuff. Anyways, I've got boxes of receipts going back to 1994, figure that maybe there should be a cutoff here where I can start bailing on these things. My parents have told to me to keep everything, in case I'm ever audited, because they were back in the 70's and they say it was hell, but I've got to believe that things have changed since then. I'm completely on the up and up, have nothing to hide, so I don't think they'd find anything in the first 5-7 years if I ever WERE audited to cause them to search deeper.