Are bankruptcy and tax considered transactional? I've never understood..

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Tax is transactional. Bankruptcy is kind of both transactional and litigation

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From what I understand, yes.

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Tax controversy is litigation, tax planning is transactional

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At my firm bankruptcy is a subgroup within the litigation practice, then there’s both transactional and litigation tax

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Same

Bankruptcy is both transactional and litigation depending on what type of bankruptcy you do. If it’s business bankruptcy, specifically chapter 11, there’s a lot of litigation

At my firm, the transactional tax lawyers have a robust bankruptcy/restructuring practice

Bankruptcy can go both ways if you are in the wind down phase and doing negotiations with dip lender then can be very transactional if you are in chapter 7 and 13 things can get hairy requiring motion practice. In chapter 11 mega cases theres usually a decent amount of litigation most bankruptcy attorneys though are not really litigators.

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