Creating folders and complete directory structures from tags can be done by using the Converter > Tag - Filename.
Besides using normal placeholders (such as %artist%, %title%, ...) and arbitrary text (e.g., Music) it also allows for separating folders with the backslash \ character.
When you're using a backslash in a format string, Mp3tag will create a directory from the part of the format string in front of a backslash.
Here is an example that creates new directories under C:\Music:
The same is also possible using relative path names (instead of an absolute path in the example above) which creates the new directory below the current working directory:
%artist%-%year%-%album%\$num(%track%,2). %title%
Please note that the whole range of Mp3tag's internal Scripting Functions can be used in the format string.
Thanks a whole lot, youre a lifesaver. I would have never figured this out on my own. The "language" used to do certain things on Mp3Tag is not exactly easy for newbs like me, but I still love the program with a passion.