It was discovered that the problem affects users who were setting a one time alarm on and running iOS version 4.2.1. Apple issued a statement about the problem.
We’re aware of an issue related to non repeating alarms set for January 1 or 2. Customers can set recurring alarms for those dates and all alarms will work properly beginning January 3.
Well, the issue is back again this new year. The alarm clocks are not working. Well if you experiencing this issue, make sure you have the latest iOS firmware installed. If you are, however, afraid of the whole updating process with updating, connect your device to iTunes and it will walk you through the process.
If you have however a 3G, there isn’t much you can do. 4.2.1 is the latest software you can update to. Maybe it`s time for a new phone.