diff --git a/IPython/parallel/controller/scheduler.py b/IPython/parallel/controller/scheduler.py
index cc589fc..68ee8db 100644
--- a/IPython/parallel/controller/scheduler.py
+++ b/IPython/parallel/controller/scheduler.py
@@ -140,9 +140,10 @@ class Job(object):
         self.after = after
         self.follow = follow
         self.timeout = timeout
-        self.removed = False # used for lazy-delete from sorted queue
         
+        self.removed = False # used for lazy-delete from sorted queue
         self.timestamp = time.time()
+        self.timeout_id = 0
         self.blacklist = set()
 
     def __lt__(self, other):
@@ -155,6 +156,7 @@ class Job(object):
     def dependents(self):
         return self.follow.union(self.after)
 
+
 class TaskScheduler(SessionFactory):
     """Python TaskScheduler object.
 
@@ -433,19 +435,14 @@ class TaskScheduler(SessionFactory):
         # location dependencies
         follow = Dependency(md.get('follow', []))
 
-        # turn timeouts into datetime objects:
         timeout = md.get('timeout', None)
         if timeout:
-            timeout = time.time() + float(timeout)
+            timeout = float(timeout)
 
         job = Job(msg_id=msg_id, raw_msg=raw_msg, idents=idents, msg=msg,
                  header=header, targets=targets, after=after, follow=follow,
                  timeout=timeout, metadata=md,
         )
-        if timeout:
-            # schedule timeout callback
-            self.loop.add_timeout(timeout, lambda : self.job_timeout(job))
-        
         # validate and reduce dependencies:
         for dep in after,follow:
             if not dep: # empty dependency
@@ -469,11 +466,14 @@ class TaskScheduler(SessionFactory):
         else:
             self.save_unmet(job)
 
-    def job_timeout(self, job):
+    def job_timeout(self, job, timeout_id):
         """callback for a job's timeout.
         
         The job may or may not have been run at this point.
         """
+        if job.timeout_id != timeout_id:
+            # not the most recent call
+            return
         now = time.time()
         if job.timeout >= (now + 1):
             self.log.warn("task %s timeout fired prematurely: %s > %s",
@@ -590,6 +590,14 @@ class TaskScheduler(SessionFactory):
             if dep_id not in self.graph:
                 self.graph[dep_id] = set()
             self.graph[dep_id].add(msg_id)
+        
+        # schedule timeout callback
+        if job.timeout:
+            timeout_id = job.timeout_id = job.timeout_id + 1
+            self.loop.add_timeout(time.time() + job.timeout,
+                lambda : self.job_timeout(job, timeout_id)
+            )
+        
 
     def submit_task(self, job, indices=None):
         """Submit a task to any of a subset of our targets."""
@@ -633,7 +641,7 @@ class TaskScheduler(SessionFactory):
             else:
                 self.finish_job(idx)
         except Exception:
-            self.log.error("task::Invaid result: %r", raw_msg, exc_info=True)
+            self.log.error("task::Invalid result: %r", raw_msg, exc_info=True)
             return
 
         md = msg['metadata']