Soon! But not until after Halloween. In two about weeks, to be exact. But why, you might be asking yourself, do we fall back? Well: "The notion of shifting clocks to better take advantage of the sunlight goes back to Benjamin Franklin, but it didn't become a federal law (though not all states need to comply) until World War I," notes our sister site, LAist. "The government has tinkered here and there with when we turn the clocks ahead or back an hour, most recently in 2007, when we entered DST earlier as part of a plan to conserve energy."
Have no fear, though, as your iPhone (or your smartphone derivative of choice) will reset themselves automatically. Your microwave, however, will need a manual adjustment.
Also, as LAist goes on to point out: "You might call it Daylight Savings Time, but it's technically called Daylight Saving Time."