Visual Studio customers have been asking for richer tagging features inside the IDE for a long time. TFS and VSO have allowed tagging of work items for well over a year, but the only way to really work with the tags has been through the web interfaces.
The teams that build features in Visual Studio have a LOT of things in their backlog (I can attest to this as I was one for a little while). Adding tag management features to VS would be fairly far down that backlog, but luckily a community project has just shipped its first release of a plugin for VS that allows management of tags if you are working with TFS or VSO.
This is thanks to the ALM Rangers, who are basically a group of volunteers who provided patterns&practices style guidance for ALM tooling issues in the Microsoft tool stack.
Tag Admin for VS 2015 only works with VS 2015 Preview builds at this time, but it sounds like work is underway to support current (older versions).
Here?s a demo
I know the fact that this only works with Visual Studio 2015 is a bummer for most of us, but keep watching the project. Backlog is being transformed to Increments, I?m told 
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Thanks David! Utkarsh & I are hard at work, we would like to support VS2013 in the very near future.