In Windows 7 the language bar can be docked to taskbar or it can be kept floating.
Floating Language bar (EN)
Language bar docked to Taskbar (EN)
But if you want to hide the Language bar then you use the settings menu for this purpose.
Right click on the Language bar and select Settings from the list of available menus
In the Text Services and Input Languages, navigate to Language Bar. To hide the Language Bar, select Hidden for Language Bar radio option and click OK button to confirm and save the changes.