When the two teams met earlier in the season at Selhurst Park, Palace ran out 5-0 winners as Ipswich gave away three penalties.
However, McCarthy has insisted that his team have improved since that encounter and is expecting them to put up more of a fight at Portman Road.
"I'd want revenge even if we hadn't been beaten at their place. Get your retaliation in first," he told the East Anglian Daily Times.
"I'm not bothered about the first game. We're a different side to the one that played at Selhurst Park when we were beaten by five.
"We are far stronger and harder to beat now. That was very early on in the development of the team and we've come a long way since."
The Tractor Boys go into the encounter 17th in the Championship standings.