Heat a large skillet over medium heat. Add the beef, cooking and stirring until the beef is browned, about 5 minutes. Drain any excess grease.
Mix in the tomatoes, water, rice, and seasonings, then bring the mixture to a boil. Lower the heat to medium-low, cover, and let it simmer for about 25 minutes, or until the rice is fully cooked.
Before serving, sprinkle with a blend of shredded cheese, lettuce, and olives (if using).
Notes
A single packet of taco seasoning can be used in place of the seasonings, if desired for convenience.