Wage and Tax Statement. Form W-2 is filed by employers with the IRS and state revenue bureau, annually, no later than the first business day of March. This form reports, among other things, an employee's gross and net wages from the employer during the previous calendar year, the amount of federal, state, and local income tax withheld by the employer, and the amounts contributed by the employee to a 457 and/or 401(k) plan.