Speculation has suggested the former England Under-21 boss is close to making a return to the game as a first-team coach at Portman Road and he has now confirmed the reports.
Ipswich are currently languishing at the foot of the Championship table, without a win in the league all season, and are believed to be keen to get Taylor's considerable experience on board.
He admits a deal could be struck with the Tractor Boys, but insists discussions so far have been very informal.
"Possibly something might be done next week but I'm not prepared to get involved in what at the moment is only speculation," said Taylor.
"Roy and I have had a chat, a little chat, and that's as far as it has gone so far."
Roy Keane Last 09/10 Season at Ipswich. Click here to bet.