The Swans first tried to sign the England U21 international last summer but were unable to reach an agreement.
Welsh rivals Cardiff City came close to completing a deal, only to see Ince decide against a switch.
Swansea reignited their interest last week, with Blackpool boss Paul Ince confirming an approach had been made.
Ince - son of the Blackpool manager - is now talking with the Swans, while Ince senior confirmed earlier this week he is expecting plenty of interest from other clubs.
He said in the Blackpool Gazette on Monday: "It won't just be Swansea who come in.
"But when you see him playing like he did on Saturday (during a 2-1 FA Cup defeat to Bolton), he's going to get attention from other clubs.
"I thought that was Thomas back to his best. He was on a different level.
"Swansea have been in touch with our chairman. Karl (Oyston) is dealing with (Swansea's) Huw Jenkins on that one."
"Whether he's here after January or until the summer, who knows?"