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Short for "I Laughed When I Read That." This term is common among a more sophisticated group of internet users. It is to be used in place of, but not entirely seperate from lol. See "ILOLWIRT."
Brandon: "Bruh, ya girlfriends tits are saggy. She look like she walked offa page 12 of National Geographic."

Mike: "ILWIRT!!"
by Michael Bradus May 30, 2008