The Internal Revenue Service, the U.S. tax agency, said Thursday that it has taken steps to address a wide disparity in audit rates between Black taxpayers and other filers. And it said it is more closely examining the returns of larger numbers of wealthy people and major companies.

The Internal Revenue Service said on Thursday that it plans to sharply increase audit rates for big corporations, partnerships and multimillionaires over the next three years as it ramps up enforcement spending and hiring to boost collections.

The Internal Revenue Service detailed its plans Thursday to significantly ramp up audit rates of wealthy taxpayers and large corporations, using funds provided by the Democrat-backed Inflation Reduction Act that passed in 2022.

The IRS is tapping Inflation Reduction Act funding to hire more agents and go after more tax cheats. Here's where it is focusing.