In a large pot, brown the ground beef or turkey over medium heat until fully cooked.
Drain excess fat from the meat.
Add chopped onions and bell peppers to the pot and sauté for 5 minutes until softened.
Stir in the taco seasoning, ensuring it coats the meat and vegetables evenly.
Add diced tomatoes, black beans, kidney beans, and corn to the pot.
Pour in the chicken or vegetable broth and stir well.
Bring the mixture to a boil, then reduce heat and let it simmer for 20 minutes.
Season with salt and pepper to taste.
Serve hot, garnished with fresh cilantro and lime wedges.
Enjoy your delicious taco soup!