Brown the ground beef in a large skillet over medium high heat until it is no longer pink. Drain the grease from the skillet.
Return the skillet to the stove over medium heat and stir in the taco seasoning, tomato sauce, tomato paste, sour cream, and cream cheese. Continue to stir until all of the cheese is melted and everything is well combined. Turn the heat off and stir in 1/2 cup cheddar cheese.
Remove from stove and top with shredded lettuce, tomatoes, and the remaining 1/4 cup cheddar cheese. Enjoy!