The biggest thing that Taylor's mechanics can help him with is, instead of those helium ballons that Reed, Bell and Turner catch are TD's instead of long gains down into the redzone. All of these guys have had to wait on the ball after being atleast 5 yards behind the secondary.
The decision making as knapp has pointed out will hep the passing numbers far more than anything. Too many times, Taylor appears to have a locked in a certain idea that he is throwing to "x" receiver before the snap and more often than not that receiver is amongst 2 or 3 defenders. Line play has affected it, but I would love for Taylor to be able to hit his second or third read on a pass play. This has yet to happen,
One final thing on his decision making, and this goes along with reading his progressions, But in the Washington game when Taylor went for the homerun to Bell in the second half into double coverage, he had BOTH Jamal(I believe) and Ben Cotton running by themselves at 10 and 15 yards running across the defense. Time hopefully correctsthis, but just once I plead, for a second or third read to make a catch this year. The primary read and check down just will not cut it.