The left back is in the middle of a fierce battle between Newcastle and Swansea, with both teams unable to agree suitable terms for Taylor to become a Magpie.
With the situation reaching a stalemate, the argument has now been referred to a Premier League arbitration panel, who will decide whether Taylor is to stay in south west Wales or move to the Geordies.
Swansea are unwilling to let the 21 year old leave for just £1m while United are equally reluctant to raise their offer, believing that the bid is enough to trigger a release clause in the player's contract.
But as far as the Swans are concerned, the bid simply entitles Newcastle to talk with the club and does not trigger a release clause.
Taylor's agent Jamie Moralle told The Journal: "It is slow progress at the moment but at the same time it needs to be resolved because the lad is in a very delicate position.
"At the moment clarification is being sought from the Premier League and we are waiting for that but Newcastle have made it clear that they won't go above £1million, which is not an offer that Swansea will accept."