I've always run pedal taps until I get to the "flat" part of the tap (non tapered). That is generally all of the way at the end of the tap, then I back it out the same way I put it in. It should back out very easily (I usually do it by hand with no tool.) I've never had trouble doing this. I have the park tool taps.

And yes, I do the 1/2 (ish) turn forward, then a bit back to clear the chips. Repeat, etc. You can do it by monitoring the pressure you're putting on the tool as well. When it reaches a certain point, turn the tap back a bit, then repeat. (Basically 1/2 forward 1/2 backward isn't a hard and fast rule.)