Yes, the help desk told me to reset the offending account. It worked and so simple! Go to outlook settings, press the name of the account and near the bottom of the page is an option to reset it. I cannot comprehend why no one has said this before.
As mentioned before.. this does NOT work in most cases. I've certainly tried that multiple times w/o success.
The be-all / end-all solution is to completely remove the app, switch off the phone and start from scratch.
And yes... very disappointing that after such a long time MS doesn't weigh in on this very real and annoying issue.