I want to report a very serious issue against IBSN and would like to request all readers to take a note of my case and refrain from dealing with IBSN. I also noticed that there are similar multiple complaints filed dating back to 2009 on this forum and its 2012 and this fraudulent company is still running!! Year after Year IBSN has been cheating & looting … don’t know… 100’s 1000’s of innocent tax payers. I am not sure why has there been no action against this company until now.
My experience with IBSN ---- Dec 2011, I received IRS audit notices for Tax Year 2009 & 2010 for the tax returns that IBSN filed for me. My first instinct was to contact IBSN and I tried email addresses & phone numbers listed on the company website (http://myibsn.com/) as I had paid IBSN around 830 USD for unlimited tax representation (in the event of IRS notices) for tax years 2009/2010. Frustrated with NO CALL ANSWERS & EMAILS BOUNCING BACK, I came to this forum and realized that I was yet another IBSN victim. I immediately emailed my concerns to Laxmi Palyapu (Chief Knowledge Officer at IBSN) & Vikram Ravoori (email@example.com, firstname.lastname@example.org). Laxmi replied to me immediately promising all the help and support that they are supposed to provide under their “unlimited tax representation” service offering that I had already paid for (830 USD) and asked me to get my IRS notice response due date extended by 1 month, which I did (new IRS due date Jan 27 2012). Her promise, however, didn’t buy my trust as the reviews on this forum were so bad that I started reading & understanding IRS tax laws myself in order to prep for IRS notice response as a backup. THANK GOD THAT I DID!! In the absence of no proactive calls & no sign of any response draft from IBSN; I sent my response to IRS on Jan 27 2012 and settled my case with IRS on March 28 2012 while paying overdue taxes of 4642 USD ($191 in Penalty) to IRS. Thanks to the IRS audit officer who worked with me for 2 complete months to explain the IRS tax rules and making adjustments to my case based on my explanations. In the process, I realized that IBSN had totally misrepresented my tax returns. On March 28 2012, I sent an email to Laxmi Palyapu again asking for a refund of 1021 USD (830 for tax representation services & 191 for IRD penalty charges) that she had promised to pay back and I have not heard back from her ever since.
Clearly following up with IBSN on tax audit closure has been a complete waste of my time and energy. After 3 months of continuous follow up I have been left out in cold and to the mercy of an irresponsible, unresponsive IBSN staff and business practices. Why would I go to a tax service company (with so called CPAs etc.) paying exorbitant filing fees if I have to cross check what IRS tax laws/rules have they applied to my returns?? If I had the required knowledge I would as well file my own returns, which by the way starting with tax year 2011 I have started. I am not sure if I will ever get my money back but if the authorities reading this thread can take action against this Scam Company “IBSN Inc.” / “IBSN India Ltd”, PLEASE SHUT THIS COMPANY DOWN AND SAVE INNOCENT TAX PAYERS!! I can also share the proof of my email conversation with Laxmi Palyapu, if needed.