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Used often in the business world, this incredibly versatile phrase can be literally translated as "fuck it."
The client changed the deadline to today? Well, it is what it is.
by A. Danish November 27, 2007
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I couldn’t care less (but one must keep up appearances, right?)
Frenemy has a family tragedy. "Thoughts and prayers."
by November 05, 2018
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A) A phrase that seems to simply state the obvious but actually implies helplessness.

B) A phrase that seems to simply state the obvious but actually means "it will be what it is," as in "it ain't gonna change, so deal with it or don't." See also tough shit, oh well, cry me a river and tfb.
Meaning A
J: I can't believe the price of gas!

B: It is what it is.

Meaning B
J: It troubles me that you continue to put cyanide in my Yoohoo even after I've asked you to stop.

B: It is what it is.
by JohnnyAZ May 20, 2006
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A quintessentially American East Coast colloquialism that is meant as a sort of passive acceptance of a situation that is not favorable but also cannot be changed (or at least not right away). It can be used in any context, although usually it refers to an illness, injury, stroke of bad luck financially, romantic trouble, etc. It should never be used as a means to an end in an actual intellectual comversation. Also known as: What will be will be. Suck it up. Deal with it.
"Landlord bumped my rent up... oh well, we don't have a lease agreement. Eh, it is what it is."

::after a long perios of obsessively analyzing what went wrong in a toxic relationship; finding oneself depressed and overwhelmed by the details of it all; an acceptance (these are usually prefaced by a weighted sigh):: "It is what it is."
by ERIC ROUNDABOUT October 04, 2015
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Meaning #1 A phase used to instill a sense of acceptance in a situation. It is used to remind one of the unalterable elements of life. think of " I am who I am" The phaze defines things that cannot be changed, it to say "it is this way, so we have to accept it." An apple can never be an orange, even though if you wish, hope and dream it was an orange. it IS what it IS

Meaning #2 The condition of state of the present that has to be accepted.
1.I hate the fact that I wear a size 12 shoe, but it is what it is...

2. I was ashamed to tell him that my mom is an alcoholic, but it is what it.
by Social Security August 06, 2008
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A trite, overused and infuriatingly meaningless cliche that is utilized by provincials who think they are adding some deep, meaningful insight during a discussion when all they are offering is senseless, unwarranted repetitiveness to what would otherwise be a far better conversation had they not shown the shallowness of the gene pool they spawned from by using this asininely useless and redundant phrase to begin with.
An interesting conversation is being had, when quite suddenly:

Robin: My house burned down last night. It is what it is.
Aidan: Fuck you, provincial.
by BennyKennedy April 01, 2009
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