You asked, and we heard you! Now you have the ability to clean up saved tags, significantly reducing clutter in your account.
You can find your saved tags on the Dashboard by clicking the List Icon and selecting Tags or clicking View All on the Tags tile at the top of the Dashboard.
Click the ellipsis icon on the tag that you would like to hide, and select 'Hide Tag'.
If you need to recover your hidden tag, simply click the 'Show Hidden' toggle at the top of the page, click the Ellipsis button, and select 'Unhide Tag.'