STIR in taco seasoning and water; COOK, STIRRING, until thickened, about 3 minutes; SET aside.
PREHEAT oven to 375°.
PLACE chips in a greased 8-insquare baking dish.
In a small bowl, STIR refried beans; SPREAD over chips; TOP with beef mixture and cheese.
BAKE, uncovered, until heated through, about 15-20 minutes.
TOPPINGS: Chopped lettuce and tomatoes, sliced ripe olives; SERVE with sour cream and picante sauce
Per Serving (excluding unknown items): 883 Calories; 53g Fat (53.6% calories from fat); 31g Protein; 72g Carbohydrate; 11g Dietary Fiber; 96mg Cholesterol; 1502mg Sodium. Exchanges: 4 Grain(Starch); 2 1/2 Lean Meat; 0 Vegetable; 9 Fat; 1/2 Other Carbohydrates.