Lyrics3v2 tag removal

How do I remove a Lyrics3v2 tag? Does it mean that the file has Lyrics imbedded?

Maybe. Lyrics3v2 is extension of Id3v1 tag format which allows storing of (synchronized) lyrics into the (mp3) file, as well as metadata values longer than 30 symbols. So, if you need to store track/album name etc. longer than 30 symbols AND you have to use Id3v1 tags, you need Lyrics3v2. And, of course, you can embed lyrics.

In Tools > Options > Tags-Mpeg where it says Remove, check ID3v1 ONLY.

Then right-click on the file > Remove tag.