Step 3
Right click the text layer and click "Rasterize Layer"


Then go Edit >> Transform >> Perspective


Now drag it around until you like the view.




Step 4
Duplicate the text layer, resulting in 2. Now the text layer on the bottom move it to where you want the blockness to be. I changed the color of mine for your viewing pleasure. Make sure to use your arrow keys and move it in one direction only. (left right, down or up) and not up up up right right up up.


Step 5
Now hold alt and select the bottom layer and press the arrow key, but now in the opposite direction. I moved the red part left so now I hold ALT + press the right arrow key. Notice as it makes a new layer and move it right and starts making the 3Dness.


Then just play around with blending options.