Clarke Carlisle's injury-time goal earned the Clarets a fighting draw to preserve their unbeaten start to the season in dramatic style.
Burnley's winning start looked to be coming to an abrupt end after David Edgar had been sent off late on and David Norris put Ipswich ahead with five minutes to go.
But the Tractor Boys made a habit of being punctured by late goals last season.
And with Burnley refusing to give up the ghost the home side cracked again two minutes into added time when Carlisle scored his first goal since April, 2009.
Clarke meets Grezza's corner
It was a collectors' item in more ways than one as his perfectly placed header came from a corner which the ten-man Clarets had forced through their never-say die spirit.
For once making the most of a set-piece, Carlisle pounced to suggest that the Clarets are ready to scrap every inch of the way through their Championship return.
Despite opening the season with three points a week ago, Burnley boss Brian Laws had made two changes to a back four that had kept a first clean sheet since October.
Injuries ruled out both Tyrone Mears and Michael Duff with goal hero Carlisle coming in for Duff and Edgar starting at right-back after Mears' ever-present league record for Burnley was ended by a shin problem.
Goal hero Clarke Carlisle
Edgar was thoroughly tested early on by Ipswich new boy Andros Townsend with the on-loan teenage Tottenham winger making an impressive debut.
But the former Newcastle United man held his own in the contest and it was his crucial block from Jon Stead from a dangerous Townsend cross which helped keep the Clarets level ten minutes before the end of the opening half.
Townsend had provided Ipswich's major attacking threat in the first 45 minutes as he fizzed a shot across the face of goal and also forced Brian Jensen to smother the ball going down to his right-hand side from a 20-yard skidding effort.
Generally, though, the Clarets' defence again gave solid protection to Jensen with Carlisle and Andre Bikey in commanding form against Stead and Hungarian international Tamas Priskin.
At the other end Chris Iwelumo was equally well shackled but when Burnley played their way through midfield and got wide man Martin Paterson and Ross Wallace into the game they punctured holes in the home defence.
A typically well worked combination between Wade Elliott and Paterson gave Paterson an early shooting chance which he failed to convert.
And then an outstanding move after 26 minutes could have seen Elliott give the Clarets the lead.
Wade Elliott was a driving force
Bikey started if off when he cleared from the back and even though Iwelumo was beaten in the air, Alexander and Dean Marney, with a fantastic pass, recycled the ball to release Wallace.
The winger did everything right in beating Jamie Peters and then rather than shooting, cleverly picking out Elliott for a seemingly routine finish.
Elliott was on target from six yards, but couldn't quite locate the corner and from nowhere goalkeeper Marton Fulop flung himself across the goal to make a sensational block with hand and face.
The chance enlivened the Clarets with Wallace firing wide and smacking a free-kick into the defensive wall before the break.
But Ipswich were also growing in belief and early in the second half Roy Keane's side looked the more likely scorers.
The Clarets didn't help their cause with indecision from Carlisle presenting Priskin with a chance he fluffed and Paterson then surrendering possession with Burnley committed to attack and Stead failing to punish the visitors on the break.
Laws sent on Chris Eagles and then Steven Thompson in an effort to regain the initiative but it looked set to become a rearguard action once Edgar had received his marching orders with 12 minutes to go.
The defender baled his team out as he blocked off David Norris's forward run as the Clarets again threatened to get undone on the break following a corner.
And with referee Grant Hegley in less than charitable mood, Edgar was forced to take one for the team and head for an early bath with two yellow cards to his name.
Elliott slotted in at right-back but the makeshift back four could not hold out as Ipswich struck with five minutes to go.
Burnley could not deal with a corner which McCauley flicked on at the near post and when Stead headed the ball back into the danger area Norris cutely back-heeled into the net from close range to seemingly end the Clarets' 100 per cent start at just the second hurdle.
But Laws' men would appear to have a new-found resilience about them and they snatched a point in dramatic fashion.
The ever-willing Elliott had already got forward to test Fulop with a thumping volley and then forced the Ipswich keeper to tip over his swinging cross.
Corners have proved futile ground for the Clarets but just when it was needed, Graham Alexander delivered for Carlisle to peel away and glance a stunning header into the top corner to make the long trip home - and hopefully the campaign to coome - a satisfying one.
Burnley: Jensen, Edgar, Fox, Carlisle, Bikey, Alexander, Marney, Elliott, Paterson (Eagles 67), Iwelumo (Thompson 74), Wallace: Substitutes: Cork, McDonald, Cort, Rodriguez, Grant.
Ipswich Town: Fulop, Peters, O'Connor, Smith, McAuley, Hyam, Leadbitter (Healy ht), Norris, Stead, Priskin, Townsend (Murphy 73). Substitutes: Eastman, Lambe, Murray, Ainsley, Hourihane.
Referee: Grant Hegley.
Sent off: Burnley: Edgar (booked) 41, 78
Booked: Fox 75