It's a long standing problem that MS has never fixed, either because they can't or do not feel it's important enough to spend the time on.
Download this program, unzip and run it and your problem is solved: http://mtec89net.com/ftp/FixXPToolTips.zip
Above link no longer good, use this one: http://www.appcheck.net/AppDetails.aspx?Name=FixXPToolTips
You will have to run it when ever the date is hidden behind the taskbar. I placed a copy of FixXPToolTipx.exe on my Quick launch tool bar so a single click on it fixes the problem until it reoccurs.
This was posted by Paulina here: http://www.annoyances.org/exec/forum/winxp/1120063018?s
Updated link posted by Norm here: http://www.annoyances.org/exec/forum/winxp/1173785146?s
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