TLS stands for Translation Libration Screw-motion (the dash makes it acronym-ically fine) which is a method of refinement in the program REFMAC5 within the CCP4 suite or in phenix.refine. According to developer, Martyn Winn, TLS refinement can be at almost any resolution.

Why should I use it?
The benefits of using TLS refinement is that it can reduce your Rfree and Rwork values. The implication being that the produced structural model will be a better representation of the collected data.

How Does it Work?
TLS refines ’sequence groups’ that are described using 20 parameters per each group.

How Do I Determine the Groups?
The TLS Motion Determination (TLSMD) is a server that allows for the submission of your amino acid sequence and recommends how to segment your sequence (ref). A number of different TLS groups are possible for the same sequence (ref).

How do I actually do this?
1) Do a rigid body refinement followed by ~10 rounds of restrained refinement
2) Take this output and submit it to the TLSMD
3) Take the segments that are produced by the TLSMD and fix the B factors to 40 (ref)
Note: the B factor was set to 20 in the literature reference
4) REFMAC needs the following inputs: REFI TLSC 20, TLSIN, BFAC SET 40 (more details and here)
5) Perform TLS refinement
6) Perform restrained refinement followed by the addition of ligands, ions and solvent

How to do you know if TLS helped?
A decrease in the Rfree value as well as an improvement in the electron density maps.

I have done my best to condense about 100 pages of websites, presentations and literature into 250 words. Please let me know what I need to change/add/remove to make this post more helpful, thanks!