Trying to create an item via rest:

const body = {
      itemid: itemText,
      taxSchedule: {
        id: '1',
      },
    }

Getting an error:

{
  "message": "Error while accessing a resource. Please enter value(s) for: Tax Schedule."
}

I'm seeing the same thing you are. There are several references in Help and SuiteAnswers that say,

REST web services do not support legacy tax features. To work with taxation through REST web services, you must have the SuiteTax feature enabled.

Also, a couple of REST resources in SuiteAnswers (1014081) that say,

Tax schedule-related fields are not supported in REST.

Yeah, I ended up with a BeforeLoad UE setting a default tax schedule to allow record creation.