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Latency issue with my USB interface

I am new to the home-recording game. I have immediately run into a latency issue with my Tascam 122 USB interface - when I overdub on an imported beat or the rhythm track, the latency factor seems to be around 120 ms. Actually, it seems to be early / faster by 120 ms so I have to increase the time location on that track. I have two questions:

latency issues

I have Sonar3, the Behringer 1204 mixer, the audiophile2496 soundcard, an m audio midi controller and Behringer monitors.
When i record my guitar, i plug it directly into my mixer.
1)One of the problems i have is that, after i record my guitar, the play back is slower and has vibrations and pops.