Definition
To forcefully remove undesirable people from a place.
To announce something, hoping it will not get much publicity, at a time when it is not likely to be noticed by the news media, for instance on election day or late on Friday afternoon before a holiday weekend.
How People Actually Use It
1) To move the garbage from indoors to outdoors so that the sanitation people may take it to a landfill. 2) Term used, usually in movies, where the good guy gives the bad guy(s) what's coming to them.
""It's time to take out the trash!" said the hero before he bludgeoned the villain with a lead pipe."
Source: Urban Dictionary