What is the name of the tax form that employees receive in January detailing wages and taxes withheld?

The tax form that employees receive in January detailing wages and taxes withheld is known as the W-2 form. This form is essential for tax preparation, as it summarizes the total earnings an employee received from their employer over the previous year, along with the amounts withheld for federal, state, and other taxes. The W-2 is a crucial document for individuals as it provides the information needed to accurately report income on their tax returns and ensures compliance with tax laws.

In contrast, the other forms mentioned serve different purposes: the 1099 form is generally used for reporting income received by independent contractors and other non-employees, the 1040 form is an individual income tax return used to report personal income to the IRS, and the W-4 form is used by employees to inform employers of their tax withholding preferences.