IBSN Tax reviews and complaints

Why are you paying someone to do your taxes. You can file a free federal tax return electronically with a number of internet tax companies. The state return is generally a charge but in most states when you have a federal return in hand it takes just minutes to fill out and file the state return or just pay the charge. TaxCut was less than $25 federal and state last year. I happen to like TaxCut but that is just my preference. When you dial them up, the forms are in the format of questions so they fill out automatically as you answer the question. They can be used for business income also but that does require you to gather some data together to enter into the question. You cannot go wrong. It is as easy as 1 2 3.

Big fraud company.

Bariflo labs is the worst company i saw in Odisha. for reference check this reviews in glassdoor - https://www.glassdoor.co.in/Reviews/Bariflo-Labs-Reviews-E4821546.htm

I used their service to file my 2009 tax returns. Initially they charged false consultation fees. Later when I asked them they told that they will return the excess amount soon to my account. More than 5 months I am running behind them. No use. Still I didn't receive the money back. I am really very much worried about their service. Are they filed my tax properly or not? Will I get any problem in the future?

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From » Ravi Shankar (Admin) Date » 7/14/2010 8:08:00 AM
To » Saravanan Dhanasekaran (ktsaran@gmail.com)
Subject » Excess amount is not yet received
Message » We already send a request to our reversal department. they will revert back this month end.

Thanks & Regards,
IBSN Inc.

From » Saravanan Dhanasekaran (ktsaran@gmail.com) Date » 5/28/2010 1:20:00 PM
To » Tax Supervisor 21 (Tax Supervisor)
Subject » Excess amount is not yet received
Message » Hi, I didn't receive the amount till. What is the status? I am really very much upset of your this year process. No proper response and reliability on your service. Reply me soon regarding the reversal status.

From » Ravi Shankar (Admin) Date » 4/29/2010 12:59:00 AM
To » Saravanan Dhanasekaran (ktsaran@gmail.com)
Subject » Excess amount is not yet received
Message » Excess fee reversal is initiated and the same has been forwarded to the finance dept. and will see that this amount be reversed at the earliest

Thanks & Regards,
IBSN Inc.

From » Saravanan Dhanasekaran (ktsaran@gmail.com) Date » 4/27/2010 3:01:00 PM
To » Tax Supervisor 21 (Tax Supervisor)
Subject » Excess amount is not yet received
Message » Hi, I have paid $615 for tax calculation but the actual amount is $365. The excess amount $250 is not yet reversed to my credit card. Please let me know when the amount will be credited in my account. Need your reply ASAP. Thanks. Saravanan.

i agree with the complaints. Yes he is a absolute fraud and cheat. He ripped me of more than $5000 by the way of IRA investment and never willing to refund. I am filing a report with FBI in few days and have him answer all his past sins.

To bombaytravelincvictim & Whomsoever It May Concern
Cynergy Tax was/is No Way related to any other US Tax Filing Firm, Cynergy Tax is a Professionally Organized firm run by Professionals over the years and will continue to do so, No matter What, thereby Serving the Thousands of Clients both in US & India to their utmost Satisfaction.
Anyone with any issues relating to Cynergy Tax can communicate directly at info at cynergytax.com and can expect 24 hrs response turnaround through out the year!

Thanks & Regards
Cynergy Tax.

Looks like, once in a while Laxmi Palaypu comes out to the forum and try to get some sympathy and make some money from the poor new comers in the name of tax filing expert.
and goes back to his fraud business again.
Laxmi - If you have shared your emails for complaints or queries donnt you know that you need to respond back or hold responsible for the promises you made to customers. I have mailed more than thousand times and you havent respond back for a tax audit and atlast you make us suffer for your mistakes. And you claim you deserve respect as the business expert.

Yes, their website is also inaccessible now. There is no way for me to download tax return documents or to see email conversations during my tax filing. I have an IRS audit for 2010 amounting to more than $1600.

I am in the process of filing a case against IBSN for leniency, negligence, harassment (not receiving calls, no response, having no clarity in communications etc) and fraud. Their website is also inaccessible. There is no way for me to download tax return documents or to see email conversations during my tax filing. I have an IRS audit for 2009 and 2010 amounting to more than $10000. I have no way of paying for it. I have been approaching Mr.Laxmi Prasad and group since last 12 months.Someone needs to teach IBSN executives the importance of customer communication/meaning of tax audit representation and IRS case closure.
Anyone who is interested, please do reach out to me at

ibsnharrassment@hotmail.com.

I am really serious about letting IBSN and Federal govt/IRS about harassment and trauma I went through this journey with IBSN.
This is not a lawsuit to cliam money from IBSN. I would like IRS and Feds look into each and every business of IBSN/associates of IBSN through this legal action.

I got a call from cynergy tax. Sounds like IBSN has started new company as cynergy tax. I have been telling them to remove myname from calling list since last 5 years. Still, I receive call from them every year.

I have only one thing to say.. Unless you depend on you luck do not go with IBSN... (Based on my personal experience)

Dear All -
I would like to post few final comments here -
I have shut down IBSN websites because I am not doing this business in any commercial sense now except for few very old tax & SDIRA Clients that I have. As equally as all of you, I am tired, exhausted of this crap happening. Neither I am operating any different website, nor taken up a living in Germany nor cheating anyone. It is just that I am tired of all this prevailing.

If some “values tax” or some other company approaches you - demand them from where they got the details... Or let us fight to inquire their source of this database. I will join hands.

On audits - Please note, we make representation but not the final authority in offering department judgment in favor of the tax clients. Our practice neither was fraudulent nor was the tax code that we applied on a tax return improper. It is that department is seeking substantiate evidence to prove the temporariness of client projects and that the expenses while on this temporary job holding are not reimbursed separately by the employer. Unfortunately, out of the audits that we represented, the evidence to prove temporariness was not sufficient. When it matters evidence, it is the primary source of information that holds the key information should reveal of such evidence of temporariness. Neither the claims are cooked up, nor the code is incorrectly applied nor our practice ethics were burnt down as this forum comments. Without this evidence, no matter how much we argue, make representation to the department, it is turning futile. It is not that we practiced any undue means. It is also that we have not taken clients refunds on our name. The taxpayer received those refunds. Our average fees on each file was 150 - 350. If the substantiate evidence is not happening and our applicable tax code is not contestable - but the company is suffering still having taken the representation commitment to refund the penalty that we promised to pay.

Refund of penalty - I acknowledge whoever have signed representation agreements with us, it is our moral and fundamental responsibility to pay the penalty amount as committed. I have explained company's financial position to some who interacted with me on my personal email. I have taken up different practice lines and as soon as the company recovers financially, it is my promise in this forum that I will take personal responsibility to pay these penalty amounts. For everyone’s information, I have taken up Private Funding, Crowd Funding and Small Business Services assignment. With God’s mercy and thanks to the knowledge goddess, I could win a $500 Million Private Fund Assignment to structure a Global Agricultural Equity Fund. On this assignment I travel between Germany, Geneva, Madagascar, Ethiopia and Singapore. It is not I am operating like an underworld from Germany. I live in Manhattan, New York City. It is common for a person of my assignment to travel globally and I do so.

On discontinuance of tax business - I resigned a plum position from one of the US largest financial services company with a zeal to serve the Indian community on the tax planning gaps. This zeal started IBSN - We won corporate contracts not by showing higher refunds on the returns but by brainstorming with your HRs on the planning gaps that expats were/are missing on the files... I have personally walked into Infosys, WIPRO or any other company to convince a room of 8-10 top hr & accounts management what planning gap could be filled. It is the same practice that we represented with IRS at least on 300, 000 tax returns so far on which our audit profile is even with these many number postings on the forums is not more than 600 in number which is like 0.002%.
The situation has changed after 2009. Under confidentiality, I do not wish to talk anything bad about anyone - but blame myself. I should not have taken this practice to such heights and become unmanageable. Greed is something that crops in everywhere – My greed was not to earn money but dream of employing 10, 000 accountants in India and become a recognized alternative to the ranks of big 5. But I realize today, it is not sufficient if this zeal is just within me but should run across an organization that attempted reaching that top. I failed to realize some knowledge resources that we tried pulling as the best talent will join me only with the intention to read through the model and the hype that IBSN created; I failed to realize that some of them take disguise and post negative comments to crack IBSN and take benefit of it. I failed to realize the most trusted elements and sources within top would breach trust. I am devastated equally to find that even I receive call from these sites asking if I would file taxes. To promote a company and to raise to the level that IBSN grew was not that easy. I raised resources from all my friends and associates and even employees to support the company to the best of my might. And today I am answerable to all of them. I lost few friends, purchased embarrassment and I should tell you I have become a victim of this greed filled. Adding to this, the financial deformation on account of US economic downturn and reversal of bank facilities pulled my blood and flesh. The loss in IBSN piled my tax payments and it started severely impacting. I am an accountant with 25 years of my precious life into it. But all my practice merit, knowledge and quality and the hard work that I put in, running my career path as a top ranker in Direct Tax laws paper to the milestone of establishing an alternate tax filing company for the like of big firms here, is vapours out. Unable to take this, I have limited tax filing to a manageable number of files that I can personally monitor. For a knowledge professional, websites are not needed. I have transparently put the tax application in a very advanced level but today that transparency killed IBSN as it become a knowledge resource for other flyby night operators. For practicing taxation, that too advanced lines such as cross country planning or SDIRA, I do not honestly need any website. Nor AICPA guidelines allow marketing in practicing merit.

My living – in Germany? I am living in this country for more than 20 years; I am not living in Germany or any other place. I have business interests in Geneva, Singapore, Germany and India and that does not mean I am an operator from Germany. - I hold my CPA certification, I am a qualified chartered accountant and have three kids and my wife to survive on me.

If god exists - I can swear on him, in this forum that my practice level and ethics were always to research and merit the planning optimization and I was never after money. This is what I have very passionately taught 100s of accounting professionals in India. We have introduced Non resident Indian Planning for $100, 2106 planning for $100 - $200 and SDIRA planning for $100 -$200 while the American CPA firms for the same planning charge not less $450. By far IBSN never charged in excess of guidelines that IRS prescribed.

Some of you writing in these forums might be of my son or daughter's age. I just request - please restrain from painful language and abuse. For no fault of mine, I have suffered beyond what I can afford. If you have any personal grievance, Please write to me on my personal email at iBSN: Laxmi.palaypu@ibsnus.com or Palaypu@yahoo.com

If you need to receive penalty amount from IBSN - Please drop in your details and I request time for making this payment until I progress back financially. If I am doing taxes - I am doing taxes for very old clients of us and for those who were with us until TY2011 year. As I moved back into financial services, we are doing this small number of files through SIRI Global Tax Services. Even that I have not started yet. I just extended personal help to few clients who approached me directly. None received any marketing note as of date. Even if I am planning, I am planning to write clearly explaining our crisis and seeking support in our tyranny.

I / We do NOT own any VALUES TAX or any website that mushroomed into the market of late under various names offering tax services. Most of the sites running today are onetime employees of IBSN. I am not mad at them. If today that learning IBSN offered is helping them gain a meaningful life, I have satisfaction my knowledge soul that never went back in transferring knowledge.

I do not wish to drag anything more than this.

I request to all - I am also a human being - when in suffering - please support. If everyone believes that God, I have not cheated anyone nor the company - we worked towards a better planning and optimization and those few dollars we earned as tax fees was for the effort we put in but we never shared any client's refund money nor resorted to any tall refund claims... We never charged clients without showing the tax summary - we never filed a tax return until client reviewed his return and offered confirmation to us to file. I do openly declare in the forum – I do need to return penalty amounts on the audit cases that we represented and gone disallowed. And I promise in this forum that I will direct payment of these amounts as soon as I am financial turning back.

After many months I am writing back on this forum and I felt it is essential for me to post this message in confirmation. I request one to write to me on my personal email and I will definitely respond back as I check my mails. Please morally support me in hard times and I promise all of my integrity and merit. On taxes front, I do not wish to market but if you find my explanation reasonably, ethical and with honesty, please continue to support me. I promise a very qualitative build back and I promise my 25 years of knowledge merit.

If you need that I should answer further or personally, I request an email to my personal email id: Laxmi.palaypu@ibsnus.com. Kindly leave me your phone and contact details. I will definitely respond back. I wont be accessing this forum.

Laxmi Palaypu