What research has been done in the domain of "Identifying sarcasm in text"? Identifying sarcasm is considered as one of the most difficult open-ended problems in the domain of ML and NLP.

So, was there any considerable research done in that front? If yes, then what is the accuracy like? Please also explain the NLP model briefly.
The following survey article by researchers from IIT Bombay summarizes recent advances in sarcasm detection: Arxiv link.

In reference to your question, I do not think it is considered either extraordinarily difficult or open-ended. While it does introduce ambiguity that computers cannot yet handle, Humans are easily able to understand sarcasm, and are thus able to label datasets for sarcasm detection.