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A final solution to a situation, usually after much deliberation, and a final acceptance of that fact. It can be giving up on expecting someone to show up, or as it's typically used amongst The Mafia, a death sentence.

The simplest definition is: a ultimate, final acceptance. Period. Past all points or avenues of trying to change the situation. Gun at your head, you're done crying, he's not hearing you out. It is what it is. Get on with it motherfucker!
Frank Sheeran: "Tony told the old man to tell me to tell you... 'it's what it is'"
Jimmy: "What it is?"
Frank: "It's what it is."
Jimmy: *sniffling* "They wouldn't dare"

or

Tim: "The pharmacy won't process my refill. I tried everything."
Nick: "Not even for tomorrow?"
Tim: "It is what it is. I'm out of ideas."
via giphy
by masheteemirage November 28, 2019
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Jun 4 Word of the Day
The phenomenon of having to come out as bisexual to the same person/people repeatedly because they assumed or hoped that your sexuality was a "phase." Refers less to the holiday and more to the 1993 Bill Murray comedy film in which the main character experiences the same day over and over.
"My visit home turned into Bisexual Groundhog Day. My mom acted shocked when I told her I'm going to Pride next week, so I had to come out to her as bisexual AGAIN."
by Tiggy Upland April 15, 2014
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