The most common and most likely answer to this crossword clue is the 8 letter word LOUNGING
I've seen this crossword clue in The Daily Telegraph
L
O
U
N
G
I
N
G
Buddy explains!
The straight part
We know that "Taking it easy" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case taking it easy = lounging.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does LOUNGING mean?
LOUNGING verb- To relax; to spend time lazily; to stand, sit, or recline, in an indolent manner.
- The act of one who lounges.