Section 4982(e)(4) of the Internal Revenue Code allows a taxpayer to elect to include certain undistributed income in income during the taxable year in which it is earned, rather than in the year it is distributed. This election can affect the Return of Excise Tax on Undistributed Income by changing the amount of taxable income reported on the form. To make this election, taxpayers must file Form 2704, Periodic Application for Large Taxpayer Status and Administrative Adjustment Request, along with the Return of Excise Tax on Undistributed Income. It is important to consult with a tax professional before making this election, as it may have significant tax implications.