I am having the same problem.

Try backing up (going backwards) with your time until the day is correct, then, add 1 (day's) date to your date (to bring it back to being correct after going backwards).

The time must be manually corrected 4 times a year.

Last Sunday in March

i think you might have to change the time

The clock program for Daylight savings Time is programmed for the old "third Sunday in October" changeover. The new changeover is the first Sunday in November. The program probably cannot be updated. If there is no button or setting to disable automatic change to Daylight Savings Time you can set the time manually and then change it manually to Daylight Savings on November 1 for the time to be correct.

Hi!

Please follow the instructions given below... =)

Setting the clock

The clock is set to the correct time automatically, but it
can also be set manually. The clock can be set for
daylight saving time and time zone.
Preparation:
• Turn ON the TV and set it to the video input mode.
• Select “CLOCK” from “SYSTEM SETUP”. For the
procedure, see steps 1 to 3 in “Using the SETUP
MENU”

1 Press SETUP while the DVD and video tape is
stopped.
The SETUP MENU screen will appear.
TIMER REC SET
SYSTEM SETUP
AV SETUP
REC SETUP
CH SETUP
OTHER
SETUP MENU
ENTER/
SELECT ENTER RETURN BACK SETUP END
SELECT
2 Press
or  to select the desired menu and
press ENTER.
The submenu screen of the selected menu will appear.
TIMER REC SET
SYSTEM SETUP
AV SETUP
REC SETUP
CH SETUP
OTHER
LANGUAGE
PARENTAL
CLOCK
DISC SETUP
OTHER
SETUP MENU
3 Press
or  to select the desired submenu and
press ENTER.
The screen for the selected submenu will appear.




CLOCK (manually)
You can manually set the date, year and present time
with the remote control.
Ex.: Setting the clock to “10:20AM” October, 30th, 2004.
1 Select “CLOCK” and press ENTER.
01/01/04 12:00AM
2 Select the desired items using  or  (month,
date, year, hour, minute and AM/PM) then press
ENTER.
3 Press
or  to set the value of the selected
item.
• For the minutes, press
or  once to set the time
minute by minute, or hold down either of buttons
for several seconds to set the time in 10-minute
intervals.
10/30/04 10:200AM
4 Repeat steps 2 and 3 to set the date, year and
present time, and press ENTER. The SETUP MENU
will close.
This completes clock time setting.
AUTO CLOCK
You can automatically set the clock by turning “ON” the
AUTO CLOCK function.
When you want to set the auto clock function to “OFF”,
select “AUTO CLOCK”, press ENTER and select “OFF”
from the list.

Auto clock setting
Preparation:
You must connect the antenna or cable before connecting
the AC cord to the power source.
Wait 30 minutes with the power turned off, after the
antenna or cable is connected, for the auto clock
feature to activate.
After the clock is set automatically, you may have to set
the time zone and daylight saving time. (See page 26.)
Press STANDBY/ON to turn on the DVD/VCR after the
auto clock operation completed.
• When shipped from the factory, the “AUTO CLOCK”
option is set to “ON” position.
• If you turn the DVD/VCR on during auto clock
setting, the clock is not set.
• After a power failure or disconnection of the power
plug, the clock setting will be lost. In this case, wait
30 minutes before turning the DVD/VCR on.
• With cable box connection, if the auto clock setting
is unsuccessful, select the PBS channel carrying
the XDS information, then turn the DVD/VCR off.
After 30 minutes, turn the DVD/VCR on.
• If the clock is not set automatically, set the clock
manually.


STANDARD TIME (Time zone)
In the rare event that you live within the broadcast range
of two stations in two different time zones, the DVD/VCR
may recognize the wrong station for the auto clock set.
To correct the situation:
Select “STANDARD TIME” and select the time zone from
the list below.
Selectable time zones and correction times
ATLANTIC: GMT – 4 hours
(GMT: Greenwich Mean Time)
EASTERN: GMT – 5 hours
CENTRAL: GMT – 6 hours
MOUNTAIN: GMT – 7 hours
PACIFIC: GMT – 8 hours
ALASKA: GMT – 9 hours
HAWAII: GMT – 10 hours
AUTOMATIC: AUTO SET
Note
• When shipped from the factory, the “TIME ZONE” is
set to “AUTOMATIC”.
• After making the auto clock setting, in some cases
the clock may display another time zone. You can
correct the clock by selecting your time zone
setting above.
• When the clock is not set or you set the clock
manually, the time zone setting is not available.
DAYLIGHT SAVING TIME
You can set the clock to daylight saving time automatically
or manually.
To select daylight saving time, select “DAYLIGHT
SAVING TIME” and select “ON”, while to cancel the
daylight saving time, select “OFF”.
ON: For manual setting (forward 1 hour)
OFF: For manual setting (back 1 hour)
AUTOMATIC: For automatic setting (read XDS in
the signal)
Note
• When you want to set daylight saving time, on the
first Sunday in April you set it to “ON”, and on the
last Sunday in October you set it to “OFF”.
• When shipped from the factory, the “DAYLIGHT
SAVING TIME” option is set to “AUTOMATIC”.
• When the clock is not set, the daylight saving time
setting is not available.
• When there is no daylight saving time in your area,
always select “OFF”.

Sorry it took so long to give you a answer to your problem. I hope this information help you with your problem. Thank you for using FixYa and have a nice day! Dear Emerson SmartSet® Clock/Clock Radio Owner: Your Emerson SmartSet® Clock or Clock Radio includes Emerson?s patentedAuto Time Setting System that automatically sets the clock to the correct year, month, date, day and time, the first time that you plug it in, and after every power interruption. It also includes a built-in long life lithium battery that can maintain the time and alarm settings for up to 5 years, or even longer. As an added benefit we have programmed the internal SmartSet® computer to automatically adjust for Standard/ Daylight Saving Time changes through the year 2097. TheDaylight Saving Time information programmed into all SmartSet® models was based on the United States Uniform TimeAct of 1966, which formalized theDaylight Saving Time period that we observe today. CurrentlyDaylight Saving Time begins on the first Sunday in April and ends on the last Sunday in October. The new Energy Bill that was signed into law by President Bush in August 2005 includes a provision to extend Daylight Saving Time. Beginning in 2007 Daylight Saving Time will begin on the second Sunday in March and end on the first Sunday in November. Of course this is a situation that is beyond the control of Emerson, or any other company that produces devices with an automaticDaylight Saving Time adjustment feature. For example most computers, PDA?s, and many other devices also have automatic DST adjustments. Manufacturers of these devices must now begin to make adjustments to the automatic DST software to agree with the new DST timing for 2007. Beginning in 2007 the current automatic DST default settings in this device would no longer be correct. It would then be necessary for you to manually adjust the TIME ZONE setting 4 times each year as follows: 1.) On the second Sunday in March you would have to set your clock to the next lower number time zone. For example if you lived in the Eastern Time zone (Zone 02) you would then change your clock to Zone 1 to move it ahead by one hour. 2.) On the first Sunday in April, this clock will automatically advance by one hour. You must then set the clock back to your correct time zone. For example if you lived in the Eastern Time zone you would set your clock back to Zone 02. 3.) On the last Sunday in October you would again set your clock to the next lower numbered time zone. 4.) On the first Sunday in November you would again set your clock back to your correct time zone. Instructions for changing the Time Zone setting are found in the Owner?s Manual. We apologize for any inconvenience this may cause due to circumstances that are beyond our control.

Here's the link where you can download the manual.

http://telephones.att.com/telephones_ui/support/dsp_manual.cfm?manualID=162

I think it will be easier for you to read their directions than for me to try to explain this.

I hate to beg, but so many people don't rate solutions. We don't get paid for this we just like trying to help. If you found this information helpful I hope you'll take a moment to rate this solution.

Petewete,
Here is the manual.
http://www.timexaudio.com/pdf/T301IBOnline57204_83.pdf

Frank081541,
You can't adjust the Daylight Savings Time. I called Timex and they confirmed this.