Preheat oven to 400°F. Line a large baking sheet or baking dish with parchment paper or foil for easier cleanup.
Heat the olive oil in a large skillet over medium heat. Add the diced onion and cook for 3 to 4 minutes until softened and lightly translucent.
Add the minced garlic and stir for 30 seconds until fragrant. Be careful not to let it brown.
Add the ground beef to the skillet. Break it into small crumbles with a wooden spoon and cook for 5 to 6 minutes until fully browned and no pink remains.
Stir in the chili powder, cumin, smoked paprika, onion powder, garlic powder, salt, and black pepper. Cook for 1 minute, then add the tomato paste and water. Cook for 2 more minutes until the mixture thickens.
Spread a layer of tortilla chips on the prepared baking sheet. Top with half of the seasoned beef mixture, then half of the cheese blend, black beans, and corn.
Repeat another layer with remaining chips, beef mixture, cheese, beans, and corn.
Top with diced tomato, jalapeno slices, black olives, green onions, and cilantro. Bake for 10-12 minutes until the cheese melts and bubbles.
Remove from the oven and let cool slightly. Serve with sour cream, guacamole, and salsa on the side, and lime wedges for garnishing.