What do I do with the tax stuff?

Right now you are scrambling around getting all of last year's documents, bank statements, W-2s, cancelled checks, interest reports, donations, etc.  in one place to do your taxes.  What will you do with the papers after you file?  Most authorities say that it is important to keep these papers for seven years. Unless you have a plan, you may just stack it up somewhere.  We bought plastic tubs with covers (maybe a plastic shoe box is all you need) and put all of that year's papers that pertain to tax information in it and label it for that year.  We have a " that pertains to taxes.)box for each year of the last seven and when we put in the current year's information, we shred the oldest year.  Just stack them up in the back of a closet.  If you ever do get audited, you have all the information in one place.  It may not be fancy, but it certainly works.  (I don't mean clean out your files and put all of the papers from the year.  You will need to keep certain papers in their normal files.  I'm talking about the "stuff that pertains to taxes.