In this work, we study the statistical behavior of entanglement in quantum bipartite systems under the Hilbert-Schmidt ensemble as assessed by the standard measure - the von Neumann entropy. Expressions of the first three exact cumulants of von Neumann entropy are known in the literature. The main contribution of the present work is the exact formula of the corresponding fourth cumulant that controls the tail behavior of the distribution. As a key ingredient in deriving the result, we make use of newly observed unsimplifiable summation bases that lead to a complete cancellation. In addition to providing further evidence of the conjectured Gaussian limit of the von Neumann entropy, the obtained formula also provides an improved finite-size approximation to the distribution.