The 32-year-old forward joined the Tricky Trees on a free transfer in August 2020 after leaving Charlton Athletic.
Taylor has managed 61 outings for Nottingham Forest, scoring eight goals in the process.
The striker has yet to make an appearance for Nottingham Forest this season.
Taylor’s contract with Steve Cooper’s side ends in June this year and Nottingham Forest are open to letting the player go in the ongoing window.
The striker has piqued the interest of several clubs and it has been claimed that a loan move could be on the cards for the forward.
He is attracting interest from several clubs who would like to snap him up on a loan deal.
It remains to be seen whether Steve Cooper’s team will be able to reach an agreement in time for Taylor to exit before the transfer deadline on Tuesday.