Complete Date Instead of Year Only

Is there a settings option to append the complete date to a track instead of just the year by itself?

The field YEAR allows only 4 digits according to the ID3 standard.
If you want to save a more detailed information, then use RELEASETIME which has the format
Depending on the source, RELEASETIME can be filled with sensible data or not.

Thanks for the reply ohrenkino, this is a good tip. I use Collectorz Music to catalog my collection and I wonder if the RELEASETIME field will import there. Currently, I configure all of my files in Mp3tag and then have to do a second edit in Collectorz Music in order to capture a more precise date. Have you had success using the RELEASETIME field with other software? I'm sure others don't care much but it's important to me to list, for example, "Sgt. Peppers Lonely Hearts Club Band" as June 1, 1967 and not just simply 1967. Music changed rapidly that year! June of '67 sounds a lot different than December of '67 in my opinion.

This could well be - yet it does not mean that players take that into consideration.
Nowadays mainly podcasts come with an exact date as some of them get a new version very day (or even more often).
I can only tell you what the standard says - and one can be glad if the implementation of a player follows the standard. So if you have special needs, you need a player or some other means like adding that date to the title or so, so that it is visible by lesser gifted players.
Still a good place to save date: YEAR for the year and RELEASETIME for the exact date.