"I would like to thank Walt and Nick for their hard work and dedication to the USF football program," Taggart said. "I appreciate their professionalism and service to USF and wish them the best in their future endeavors."
Walt Wells, who served as the offensive coordinator and offensive line coach in his lone season in Tampa Bay, previously worked with Taggart at Western Kentucky.
Sheridan served as the Bulls' quarterbacks coach in 2013, and like Walt Wells, came to Tampa Bay with coach Taggart last year after their time spent at Western Kentucky.
Coach Taggart will not comment on the status of the search until the spots left are filled.
The Bulls scored a nation-low 11 offensive touchdowns in 2013.