In my case ( Visual Studio 2012 / IIS Express / ASP.NET MVC 4 app / .Net Framework 4.5 ) what really worked after 30 minutes of trial and error was setting the maxQueryStringLength property in the tag:
maxQueryStringLength defaults to 2048.
More about it here:
I tried setting it in as @MattVarblow suggests, but it didn't work... and this is because I'm using IIS Express (based on IIS 8) on my dev machine with Windows 8.
When I deployed my app to the production environment (Windows Server 2008 R2 with IIS 7), IE 10 started returning 404 errors in AJAX requests with long query strings. Then I thought that the problem was related to the query string and tried @MattVarblow's answer. It just worked on IIS 7. :)