Just managed to find this pdf on taps, it seems their thread depths are based on clearing the swarf on high performance taps as far as I can see. Can't see the bit about going below the surface.
Looking at some of the details there I can see an M10 tap that has a 22mm length of teeth but can be used to cut upto 3xd which is 30mm so seems it is OK to run them below the surface. Also another M10 that only has 10mm length of cutting surface but can go to 2.5D which puts it 15mm below the surface!

As Bandersnatch says us hobby engineers tend to tap the hole first as we don't have much control of the diameter thread the tap will produce and then cut the male part which is easily adjusted to fit the female as required by adjusting the die or depth of cut when screw cutting on the lathe. We don't need it to fit another part from the other side of the world.
Those bronze seats being threadcut M18 x 1.0 with a test gauge cut using the same tap.

Edited By JasonB on 09/09/2016 08:21:23
Edited By JasonB on 09/09/2016 08:25:57
Edited By JasonB on 09/09/2016 08:35:45