Brown the ground beef in a large skillet and drain any excess fat.

Return the browned ground beef to the skillet.

Stir in the water, uncooked instant white rice, and taco seasoning mix.

Bring the mixture to a boil.

Remove the skillet from the heat.

Stir in the shredded cheddar cheese, then cover the skillet.

Let the mixture stand for 5 minutes, allowing the cheese to melt.

Spoon the nacho mixture onto a platter or individual plates.

Top with crushed tortilla chips, shredded iceberg lettuce, chopped green peppers, frozen corn, and sour cream.

Serve immediately and enjoy!