1)Create a new 500 X 500 file. Select the TYPE tool, and type some text. Then choose Rasterize Type.

2) Next rotate your image 90° (Image-Rotate Canvas-90° CW).

3) Make the text layer active and choose Filter-Distort-Shear and click on the line that shows up and move it as you like.

4) Now rotate the canvas again (Image-Rotate Canvas-90° CCW).

5) Now click on the TEXT layer in the layers palette,while holding the CTRL button down.This selects the text shape.
6) Next, create a new layer above your text layer and name it back-text .FILL the selection with black(or any color). Drag the back-text layer down to text layer in the layers palette.
7) Now deselect the selection. Select the MOVE tool. Then using your keyboard down arrow key, nudge the backtext-layer to 2 pixel down.
8) Crop the image and save.