The home side took a ninth-minute lead after some lacklustre defending allowed Freddie Sears to calmly open the scoring.
Bournemouth, who started the day at the top of the Championship, responded in positive fashion but couldn’t find a way past Ipswich keeper Bartosz Bialkowski.
At the other end, Artur Boric made a crucial block from Luke Varney before the equaliser finally came eight minutes from time.
Both sides had gone into the match knowing that their promotion rivals had heaped pressure on them with wins earlier in the day.
And a frantic opening saw the deadlock broken after just nine minutes.
Daryl Murphy, the Championship’s top scorer, was given far too much time to control Cole Skuse’s deep cross and his low cross was neatly turned home by Sears.
Bournemouth almost hit back instantly when first Andrew Surman and then Harry Arter missed the target from decent positions in the Ipswich area.
Brett Pitman should have done better with a chance similar to Sears’ on half an hour but could only shot weakly at Bialkowski before the Polish keeper did brilliantly to deny Ryan Fraser after the Scottish winger was played in by Matt Ritchie.
Fraser was again thwarted by the Town stopper, though in more unorthodox circumstances, when his looping cross from the left wing was destined for the far corner before Bialkowski got across to tip it over the bar.
The chances kept coming for Bournemouth with Ritchie’s swerving long-range shot saved by Bialkowski but only into the path of Fraser who scuffed a difficult rebound wide.
Knowing the next goal would be crucial, both Sears and Teddy Bishop tested the Bournemouth goal early in the second half before Bournemouth responded with Charlie Daniels and Arter spurning half chances – Bialkowski again equal to them.
The game lacked a little of the first half intensity though Fraser was still proving to be the most dangerous player in red and black. His lightning breakaway caused pandemonium in the Ipswich area, but neither the winger nor Callum Wilson could find a way through.
The impressive Varney almost made the points safe 10 minutes from time when he dispossessed Tommy Elphick but he was denied by a smart block from the onrushing Boruc.
It was to prove crucial when Bournemouth levelled with eight minutes remaining. Ritchie’s corner was smartly met by sub Jones whose powerful header proved too much for Bialkowski.
The Ipswich keeper had one final save to make, brilliantly diving to his right to deny a towering header from Yann Kermorgant.