Heat olive oil in a large skillet over medium-high heat.
Add diced onion and bell peppers to the skillet and sauté for 4 to 5 minutes until softened.
Add minced garlic and cook for 1 minute until fragrant.
Add ground beef to the skillet and cook, breaking it apart with a spatula, until browned and cooked through, about 6 to 8 minutes.
Drain any excess grease from the skillet.
Stir in chili powder, ground cumin, smoked paprika, salt, and black pepper until the beef and vegetables are evenly coated with the spices.
Add black beans and diced tomatoes with their juice to the skillet. Stir to combine and cook for 5 minutes until heated through and slightly thickened.
Sprinkle shredded cheddar cheese evenly over the skillet mixture. Cover the skillet with a lid and cook for 2 to 3 minutes until the cheese is melted.
Remove the skillet from heat and sprinkle chopped fresh cilantro on top.
Warm the flour tortillas according to package instructions and serve the taco skillet mixture with the tortillas.