All the API functions can be used with a taxonomy term, however, a second parameter is required to target the term ID. This is similar to passing through a post_id to target a specific post object.
The $post_id needed is a string containing the taxonomy name + the term ID in this format: “$TaxonomyName_$TermID”
Display a field
<p><?php the_field('field_name', 'thetaxonomyname_7'); ?></p>