Hello community!  Let me start by saying DNN Essentials is packed full of goodness so kudos to the development team! We're currently implementing our taxonomy system within the Live Exchange (LE) tag manager (admin feature).  Many of our data community derived terms/tags include synonyms that get used interchangeably with the primary term. Basically, community members understand concepts and refer to concepts using multiple interchangeable terms including the full term and its acronym.  As a result, our taxonomy system includes many terms with associated synonyms. Our current approach is to add a notation in the LE tag description field referencing its synonym and offering a standalone tag lookup app (linked from but not integrated with LE) that users can review for synonyms and to help identify the primary tag that should be used when asking questions.    

Idea: 

1. Basic example: add a synonym field to the tag record (i.e., name, description, synonym) that would be displayed with a label (i.e., synonym: MVP) or other styling above or below the tags description on the All Tags View. This would offer some awareness related to synonyms and the preferred tag when submitting questions (see image1).  
2. Moving up in complexity: include textual integration of tags and synonym within the drop down Tag field on the question form. For example, the drop down list would include [primary tag] (synonym: xxx). For example MVP (synonym: Minimum Viable Product) in the drop down list. (see image2). 
3. The ultimate solution though not expected: is more aligned to Stack overflow's solution that offers awareness/cues within the question form when searching for tags and additional synonym mapping features. (see image3)
4. I'm sure there are other potential updates not mentioned here.