Do You Keep All Tax Info and Receipts For 7 Years?

Everyone make sure that you are keeping all of your receipts and tax info for at least 7 years. The IRS will go back a long time and question about something. This week I got a letter from the IRS they wanted my receipt that I had paid my 2290 taxes in 2006. I can't find my receipt. The IRS will make me repay this plus 3 years worth of interest and penalties. All because I can't find my receipt. Don't let this happen to you!
Also make sure that you are keeping your bank statements for that long. If I had kept those it would be a help right now. Keep this stuff in a place that is easy to get to and well organized. That way if anything comes up you will know right were to look for what you need.