Yes, it’s that time of year again. Anyone earning a paycheck is now squirming as accountants and tax preparers scramble to meet the dreaded April 15 deadline.

It’s a little like caveat emptor meets the Ides of March — an inescapable reminder that Uncle Sam always gets his share.

Now, there’s a new wrinkle hitting the sports world: the advent of NIL — name, image and likeness. Yes, dear athletes signing professional-style contracts, you too must pay the fiddler. In this case, the fiddler is the IRS, and it wants its cut in the form of taxable income.

“Nobody’s getting around it,” said Thad Madden, a former Ashland resident and Cardinal Brennan graduate, who rose to become one of the top agents in the Internal Revenue Service.

Madden retired on Dec. 31, 2024, after a 38-year career as a revenue officer, analyst and program manager. He now works as an enrolled agent and NIL tax consultant — one of the first of his kind. With decades of federal tax experience under his belt, Madden’s insight is both rare and valuable.

His credentials are extensive. Madden spent a three-year assignment with the IRS Learning and Education Division, where he authored and presented video training nationwide, including an interview with the IRS commissioner. He also completed two international assignments, delivering collection training to tax officials in the British West Indies and Russia.

In 2001, Madden helped launch the IRS National Fraud Program. He later received a Fraud Merit Award in 2015, special recognition from the Department of Justice in 2017, and the first-ever Lifetime Achievement Award from the Office of Fraud Enforcement prior to his retirement.

“A lot of athletes signing these huge contracts aren’t aware — or they forget— that they have to pay taxes,” Madden said. “Right now, many teenagers who sign NIL deals don’t realize what they owe. Whether a kid signs for $2 million, $50,000 or $5,000, they still have to pay taxes on that income. There’s no getting around it.”

“If an athlete receives Form 1099s for non-employee compensation — whether it’s from a collective, a sneaker company, a trading card company or a car dealership — that form is also sent to the IRS. If a return isn’t filed or the income isn’t reported, the IRS will eventually issue a notice. If there’s no acceptable response, they can assess additional tax, penalties and interest, and initiate collections by filing a federal tax lien or levying income and assets.”

“Can you imagine starting out in life with a tax lien against you, or the IRS hounding you for unpaid taxes?” Madden said. “A liability like that can follow you like a dark cloud and ruin your credit.”

That’s where Madden steps in.

His consulting business helps student-athletes understand and manage their tax obligations. He’s not there to scare anyone — just to guide them legally and responsibly.

“Kids get this money and — hey, it’s human nature — they start spending. Cars, jewelry, maybe even a house. And that’s fine. But they need to remember: you owe taxes,” Madden said.

He’s begun speaking with universities across the country, setting up seminars with Division I programs and even smaller schools.

“The big-time schools are starting to take notice. Some are now requiring players and families to attend an informational seminar on what to do when earning NIL money,” he said. “This prepares the athlete and their family to comply with the law before they end up in trouble.”

One of Madden’s final IRS projects was leading a national initiative addressing tax compliance issues surrounding NIL deals and collectives. Now in the private sector, he’s specializing in NIL consulting and education. He works with athletes, collectives, colleges, athletic departments and even conferences.

“These young men and women — and their families — deserve to know and understand their tax obligations,” Madden said. “This is a totally new landscape, and they need education and support as they navigate it.”

As an enrolled agent, Madden is federally authorized to represent taxpayers — including NIL athletes — before the IRS.

He currently lives in Downingtown, Pennsylvania, with his wife, Shannon, and their three children: Gavin, Maggie and Brooks.