Ok, better late than never: taxon pages now have taxon links next to
the description, and any signed-in user can add them. These can just
be plain old URLs like
http://eol.org/pages/328602, or you can click
"show for descendent taxa" and use template tags in the URL to
automatically fill in the scientific name, like
http://eol.org/search?q=[NAME].
So for instance, if you check out
http://inaturalist.org/taxa/51315,
you'll see I added some plain URLs like
http://www.laspilitas.com/nature-of-california/plants/calochortus-albus
and there are some dynamic ones with template tags like:
http://calphotos.berkeley.edu/cgi/img_query?query_src=photos_index&rel-taxon=contains&where-taxon=[NAME]
One guideline: try to keep the dynamic links to sites with global
reach. I was tempted to add one for
calflora.org for all plants, but
it would have just resulted in a lot of dead links for taxa outside of
California (CalPhotos, on the other hand, has an amazingly large
collection of images from around the world).
Vishal, I know this doesn't quite satisfy your original request, but
citation management isn't really what iNat is for. However, I
encourage you to add citations to your observation descriptions or the
Wikipedia pages if you find them useful.
-Ken-ichi