Comprehensive Charity Reform Act

Comprehensive Charity Reform Act - Amends the Internal Revenue Code to allow an individual a tax credit not exceeding $500 ($1,000 for a joint return) for qualified charitable contributions paid to certain private charities providing assistance to the poor. Sets forth provisions providing for the coordination of the credit with deductions allowable for charitable contributions. Allows an individual who does not itemize deductions for the taxable year a direct charitable deduction in the amount allowable for qualified charitable organizations. Exempts the charitable contribution deduction from the overall limitation on itemized deductions. Allows the taxpayer to elect to treat any charitable contribution made before the time prescribed by law for filing of the return for the taxable year (not including extensions) as being made on the last day of such taxable year and makes such an election irrevocable.