According to E! News the rumors that Taylor Lautner might not be returning for New Moon are FALSE.
Ashley Greene, who plays Alice Cullen in Twilight, hopes Taylor stays in the film. When asked if she was Team Edward or Team Jacob, Ashley responded, “Right now I’m gonna be on Team Jacob because I’m really, really rooting that you stay and that you play Jacob in the second one.”
Fingers crossed Taylor is playing Jacob in New Moon.