Stands for "It's like whatever".

It can be used in the same context as NBD which means "No big deal".
Haley: "Abe, you're pretty much good at everything, and I want to be you"

Abe: "Yeah, I'm pretty sick, but ilw..."
by AbeFTW April 29, 2010
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Rose : " That shirt is so cool , Jack ! "
Jack : " Yeah , I'm Ilw it "
by Ms. Gilinsky April 25, 2017
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