Don't know why this is being stubborn. Seams like it would be fairly direct, what am I doing wrong?
object oItem = GetNextItemInInventory(OBJECT_SELF);
string oItemTag = GetTag(oItem);
DelayCommand(0.5, SetLocalString(OBJECT_SELF,"ITEMTAG",oItemTag));
ActionSpeakString("the tag is " + oItemTag);