Papers, papers everywhere!!!

Recently, I had fallen behind in my recordkeeping. I finally decided to go through my stack of papers that have been collecting over the last few months and started to wonder why do I keep it and how important are they. I am good about getting rid of junk mail right away. If I don't look at it within the week, it's gone.
I have a basket in my kitchen that catches all the mail that comes in. It then makes its way up to our office at some point during the week to a small table I keep next to the computer. The day before payday, I start to look through it and see what needs to be paid that month and I use a clothes pin that is labeled, 'to be paid'. After they have been paid, I have another clothes pin labled, 'to be filed' and they sit there until I can file them. I also have a binder with 6 folders that have a pocket for each month where the paper work goes into when I get the chance to put it in which is about once a month. At the end of the year I would transfer all this paper into a box labeled with the year and stick it in my basement and be happy that all was accounted for.
I have been married for nineteen years, and can I just tell you how much paper we have in these boxes?? I went through a few boxes last year because I figured it'd be safe by now to throw away bank statements from banks that have been long taken over by other banks and receipts from highchairs sold long ago at yard sales. But then there were things I wasn't sure about. Credit card statements to accounts we still have, receipts to our refrigerator and dishwasher, car maintenence receipts and medical receipts and EOB's (Explanation of Benefits). Wow, do we have alot of those with 6 people in the fam.
I decided to share what I found because I figured I can't be the only person out there who appreciates this info, or maybe I fell asleep during Personal Finance class and missed it. Either way...
Taxes:
I thought this was the most important. I read conflicting advice and decided that forever sounded about right. So, tax returns and tax related items such as W-2's, donation receipts, property taxes, pretty much anything you need to file, you should keep all together in an 8x12 folder and keep them all in a box or file cabinet. Did you know that in the United States, the IRS has 3 years from the date you file to examine your returns for errors, and 6 years to audit for underreporting your income by 25%. There is no statute of limitations on suspected fraud.
Medical policies and receipts:
These should be kept for the life of the policy. EOB's fall under this category. One site even suggested keeping these for three years after the policy expires just in case.
Life insurance and Investment related things:
These should be kept for the life of the policy as well.
Bank statements and receipts for bills:
Advice is one year. Be sure to shred, shred, shred them. This includes credit reports, utilites, and any minor purchases without a warranty. Some advice was one month, but I know that if I throw it out, I will need it the very next day.
Any large purchases that come with warranties should be kept for the life of the product. I know this sounds obvious, but I still had paperwork to a microwave that was stolen when Bobby and I were first married. Go figure.
Remember to burn or shred anything personal with account numbers, addresses, social security numbers. We have been victims of credit card fraud and have had our personal bank account accessed. I am very good about going through my statements now and keeping my eyes open for questionable purchases. Always call if you're not sure.
And now that I have done my good deed for the day, I'm off to do some more purging! Feels good!