Add the oil to a pan over medium high heat, add the beef, and break up with a wooden spoon.
Continue to break the meat into small pieces; add salt, pepper, garlic powder, chili powder, onions, and peppers. Mix until well combined.
Stir the meat occasionally for 8 to 10 minutes making sure all sides are browned. The meat is done when there is no pink in the larger chunks of ground beef.
Add tortilla chips to a baking dish, top with cooked ground beef, cheese, and jalapeƱos. Bake at 350 degrees for 10 minutes or until cheese is melted.
Top with shredded lettuce, diced tomatoes, guacamole, and sour cream.