If you want to elect S-Corp status for 2020, technically you are too late. The instructions say to Complete and file Form 2553:
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No more than 2 months and 15 days after the beginning of the tax year the election is to take effect, or
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At any time during the tax year preceding the tax year it is to take effect.
However, you can request relief and ask for S-Corp status for 2020. See Relief for a Late S Corporation Election Filed By an Entity Eligible To Elect To Be Treated as a Corporation in:
Instructions for Form 2553
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