Maybe this thread can help you?
Including the linked documentation part:
Mpeg
These configuration options are affecting audio formats which are using ID3v2 tags (currently MP3 and TTA).
Read
The order below, is the order in which Mp3tag reads different tag formats (that means that displaying APEv2 tags is prioritized over displaying ID3v1 tags). Mp3tag only displays the contents of one tag format at a time. The read tag format is denoted in the Tag column of the File List.