An acronym derived from a toast or a cheer frequently given originaly by Frank Sinatra meaning To Absent Friends, Fuck Em. Taffe is currently being used as a toast, cheer and in some cases as a way to finish off a written letter replacing "Yours truley" or "Sincerly" or any other phrases.
Wow!! Look at everybody here. Let's raise our drinks in a toast to all our friends that aren't here tonight. "Taffe!!!"