Within the Reports module, it is possible to select tags as a field to be reported. Simply search for Tags in the tabs of the available fields and drag them to the right, to use them as selected fields. This way, you can make reports of tags and other selected fields.
Read the full article about reports to learn more about the module.
Looking for more in-depth knowledge about the Tags module, where you can manage re-usable segments of records? Read all about it in this article: Tags