The plan:

September 5, 2014 Trunktrunk A directory in Subversion containing the latest development code in preparation for the next major release cycle. If you are running "trunk", then you are on the latest revision. is open for business. (Post 4.0)
September 29, 2014 Initial 4.1 meeting.
October 1, 2014 Decision time for features being developed as a pluginPlugin A plugin is a piece of software containing a group of functions that can be added to a WordPress website. They can extend functionality or add new features to your WordPress websites. WordPress plugins are written in the PHP programming language and integrate seamlessly with WordPress. These can be free in the WordPress.org Plugin Directory https://wordpress.org/plugins/ or can be cost-based plugin from a third-party. Merge window opens for any blessed for 4.1.
October 15, 2014 (+2w) Feature pluginFeature Plugin A plugin that was created with the intention of eventually being proposed for inclusion in WordPress Core. See Features as Plugins. merge window closes.
October 29, 2014 (+3w)
November 5, 2014
November 13, 2014
November 14, 2014
BetaBeta A pre-release of software that is given out to a large group of users to trial under real conditions. Beta versions have gone through alpha testing in-house and are generally fairly close in look, feel and function to the final product; however, design changes often occur as part of the process. 1.
From this point on, no more commits for any new enhancements or feature requests in this releaseRelease A release is the distribution of the final version of an application. A software release may be either public or private and generally constitutes the initial or new generation of a new or upgraded application. A release is preceded by the distribution of alpha and then beta versions of the software. cycle, only bugbug A bug is an error or unexpected result. Performance improvements, code optimization, and are considered enhancements, not defects. After feature freeze, only bugs are dealt with, with regressions (adverse changes from the previous version) being the highest priority. fixes and inline documentation. Work can continue on enhancements/feature requests not completed and committed by this point, and can be picked up for commit again in just a few weeks at the start of WordPress 4.2.
November 5, 2014 (+1w)
November 20, 2014
Beta 2.
November 12, 2014 (+1w)
November 26, 2014
Beta 3.
November 19, 2014 (+1w) Beta 4.
November 24, 2014 (+1w)
December 1, 2014
December 11, 2014
Release candidaterelease candidate One of the final stages in the version release cycle, this version signals the potential to be a final release to the public. Also see alpha (beta).. (More release candidates as necessary.)
Week of December 8
December 16, 2014
December 18, 2014
Target date for release of WordPress 4.1.

To get involved in WordPress coreCore Core is the set of software required to run WordPress. The Core Development Team builds WordPress. development, head on over to TracTrac An open source project by Edgewall Software that serves as a bug tracker and project management tool for WordPress. and pick a 4.1 ticket. Need help? Check out the Core Contributor Handbook. Get your patches done and submitted as soon as possible, then drum up people to test the patches and leave feedback on the ticketticket Created for both bug reports and feature development on the bug tracker.. Patches for enhancements won’t be committed after the posted dates, so that we can all focus on squashing bugs and hopefully deliver the most bug-free WordPress to date. Wish us luck!