Creating or converting to different tag versions

I keep a copy of all my CD's on my Windows moble phone. One of the programs on the phone requires that the ID tag be ID3v1 and nothing higher.

Some of my tracks have version ID3v2 as well as ID3V2. MP3Tag does a good job in deleting the v2 tags. However some tracks only have v2 tags and no v1 tags.

Is there any tool or process thats part of MP3Tag to create v1 tags from newer versions or from some other source?

Yes. Just enable saving of ID3v1 tags at Options > Tags > Mpeg and re-save the tags.