According to Bryan Courchesne and Saim Akif, crypto tax preparation is essential for traders due to unique rules that enable efficient strategies like tax-loss harvesting without wash-sale restrictions and direct asset swaps between cryptocurrencies such as BTC to ETH without cash conversion. Courchesne explains that tracking transactions across centralized exchanges (e.g., Coinbase) and decentralized platforms (e.g., Uniswap) is challenging because cost basis doesn't transfer automatically, risking inaccurate reporting and potential audits. Akif notes that new regulations starting in 2025, including mandatory wallet-level cost basis reporting and IRS Form 1099-DA in 2026, require traders to use crypto tax software or specialists to maintain compliance and optimize deductions for active trading.